What are some options and/or resources out there? Although I have a savings account for my children,what more can I do to help them out in the long run? Nothing risky, I just want to be able to provide for them when the time comes.
2006-07-15 18:57:22 · 7 answers · asked by gucciandlouis 3 in Pregnancy & Parenting ➔ Parenting
A 529 college savings plan is a wonderful investment plan. Also, your State may have a college savings plan or your State may have plans were you pre-pay the amount for in-state tuition ahead of time and freeze the cost of tuition for later.
Our 529 plan and state sponsored plan had different recommended risk levels depending on the amount of time before your child would be expected to attend college/age of your child.
You are so wise to be planning ahead. $20 a week now is a lot more manageable than $10,000 a semester in 20 years!
Don't plan for your children's education while neglecting your own retirement. What's good for your children is good for you too!
2006-07-16 03:39:37 · answer #1 · answered by vbrink 4 · 0⤊ 0⤋
Savings accounts at banks dont really help your money grow too much. Look into ING Orange savings accounts..I think the interest rate is up to 4.25% now. Thats much higher then most banks.
2006-07-16 02:16:01 · answer #2 · answered by KathyS 7 · 0⤊ 0⤋
a savings account of $5 a day would be enough for his college fund by the time he's 18.
2006-07-16 01:44:50 · answer #3 · answered by LuVmyBB 1 · 0⤊ 0⤋
try a college savings plan, the governmetn may often give up to 20% of what you invest. and the best investment? be there for your kids, and stay with their dad/mom, speaking from experiance, its waaaay better.
2006-07-15 19:12:07 · answer #4 · answered by i must be bored, im on Y answers 3 · 0⤊ 0⤋
529 education savings plan.
go to clarkhoward.com and look it up
2006-07-15 19:00:53 · answer #5 · answered by hotrod9230 2 · 0⤊ 0⤋
psssshhh.. or you can be like my parents.. who are greedy bastards who got divorced, saved absoultely nothing for us. and are going to make us pay for most of it.
2006-07-15 19:03:45 · answer #6 · answered by David 5 · 0⤊ 0⤋
build them not build for them
2006-07-16 02:47:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋