Looking for some advice with a 529 for my son. I opened it through State Farm when he was born earlier this year and have been contributing monthly. 61% of the portfolio is State Street S&P 500 index (at the current time) which has dropped .66% over the last 6 months compared to Vanguards and Fidelitys 500 index funds which increased about 10%. I’ve contributed $750 so far and it’s current value is $744.68. I have no control what the portfolio composition is. Should I A) continue to contribute as is or B) stop contributing to that one and open up a new 529 within my fidelity account where I can invest in something like a fidelity target date index fund? I couldn’t find any rules that say I can’t have more than one 529. And if anyone can tell me why the State Street 500 fund is lagging behind the others I’d really appreciate it, they should be performing about the same since they’re made up of the same thing right?
This should answer the 529 question:
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