I have a baby daughter that I want to start a college savings acct for, but I want to remain in control of it until I decide to give it to her ....or not give it to her. Anyone currently have one like this or done the research?
2007-07-21 21:44:26 · 2 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
Put it in a high intrest bank account, or in premium bonds.
You will get high return on the money invested, though you need like 6 months notice to take money out.
In my opinion I think people should pay for their own college funds, teaches them how to control money, if their parents pay (I know its a clishe) but they wont learn the value of money and how it is to live like a broke college student.
2007-07-21 21:49:53 · answer #1 · answered by ertyu 3 · 0⤊ 1⤋
Check with a financial advisor. There are pros and cons about all of them. They should be able to help you decide which is best for you and your family. There are 529 plans, as well as, Roths for education, other options too. Alot will depend on your goals and risk comfort.
2007-07-24 15:53:06 · answer #2 · answered by John 3 · 0⤊ 0⤋