Since they can change the rules at any time, does it really matter?Anyone happen to save a copy of the letter from Vanguard last summer about stopping taking new money in Vanguard ESAs?
Now, they have not only stopped taking new money, but also now one can't buy new things with one's existing $$ inside existing Vanguard ESAs.
I understand why they aren't taking new money if they are hoping to shut down ESAs, but I was surprised about the restriction about buying new things (I was just trying to buy some T bills with cash in the money market fund). One can sell things, one can spin the ESA into a 529, or one can transfer to another ESA provider (e.g. Fidelity, Schwab).
I called (twice) and asked, and they said that they couldn't sent me a copy of the letter from last summer. I wanted to confirm that the letter had said that no purchases would be permitted with existing funds. The lack of a response (the stonewalling) is disconcerting.
Thanks for any info.
It's clear they'd rather you go elsewhere. It might be worth doing before July 1 to avoid the potential for an account closure fee.
Statistics: Posted by exodusNH — Mon Jun 03, 2024 11:16 pm — Replies 33 — Views 5599