2007-02-08 01:52:22 · 12 answers · asked by pshrpug 1 in Business & Finance ➔ Insurance
A 529 College Savings Plan - http://www.529s.com
Education is the best gift you can give a child and helping them afford it is very important.
2007-02-08 01:59:15 · answer #1 · answered by Anonymous · 1⤊ 0⤋
So, do you have a new baby? Congratulations!
First thing you should provide for him is health insurance. You should provide him this protection since the very beginning, because you never know what kind of illness or defects he will suffer from in the future. The worse thing is, once he is hit, he is likely not insurable anymore.
Second thing is education insurance (e.g. endowment plan), because education fee is ever increasing, employment market is getting more competitive (and it means you may get fired before he gets a job or he goes through his education). Endowment plans usually give you considerable interest rate.
Third, if you want to grow money, it will be good that you consider investment. You can invest in anything, but you should consider you risk profile. If you can take high risk, you can invest in futures, properties, or stocks & shares. It is good to diversify your investment, and to consider unit trust. If you are worried about fluctuation in the market, you can choose bonds or similar products.
Happy investing!
2007-02-09 04:03:45 · answer #2 · answered by r083r70v1ch 4 · 0⤊ 0⤋
There are a few good things to do for your baby aside from support, dedication & LOVE. Putting some money in a college acct can do many great things. College is expensive now...just think about 15-20 yrs from now. Also, it is a fabulous way to shelter money from Uncle Sam. Life Insurance is a great thing. CASH VALUE life insurance. It is something that will give provide them life ins if later on in life they become uninsurable (cancer,diabetes,etc) & also if they don't need it (no bills to leave to love ones) then they can cash it out & get all money back that was put into the plcy (depending on when it is cashed in). I suggest you go & talk to your insurance agent & get the specs on your specific state regulations. When my son was 15 days old (eligible for life ins in MS) I bought a 15pay life plcy that is just like a whole life plcy but I only pay for it for 15 yrs then I put no more money into it YET IT KEEPS GROWING. AWESOME!!!
2007-02-08 10:18:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
A Universal Life Insurance policy. The premium is really low. It builds cash value and guarentees that he/she will always have life insurance. It teaches financial responsibility. We never know how long we have and everyone wants to leave a legacy. Plus, everyone else's ideas.
2007-02-08 10:33:36 · answer #4 · answered by The Rabbi 5 · 0⤊ 0⤋
Consider Treasury iBonds (savings Bonds Series I). They are an inflation-adjusted bond so there is no risk of a negative return after inflation. They are tax-deferred until you cash them, and you can hold them as long as 30 years. Not a sexy gift, but a safe one.
2007-02-08 10:02:48 · answer #5 · answered by SDD 7 · 0⤊ 0⤋
assuming that you are already going to give them your love and protection and devotion, How about a few savings bonds from the treasury department. YOu can get them from any bank
Congrats on your new infant
2007-02-08 09:56:54 · answer #6 · answered by lisa s 6 · 0⤊ 0⤋
Real estate. Or a stock certificate. Or a certificate of deposit, or savings bond.
New infants don't need gifts - they just need to be held and given lots of attention.
2007-02-08 11:09:15 · answer #7 · answered by Anonymous 7 · 0⤊ 1⤋
1) Safe, loving home
2) College Savings Plan
3) Constant incouragement
2007-02-08 10:29:16 · answer #8 · answered by P-3 Hoser 2 · 0⤊ 0⤋
A savings bond
2007-02-08 09:56:02 · answer #9 · answered by Stuck in the middle of nowhere 7 · 0⤊ 0⤋
Love
An understanding of right and wrong
An Education
2007-02-08 10:04:46 · answer #10 · answered by insuranceguytx 5 · 0⤊ 0⤋