I have a 14 years old daughter, in five years she will be attending college. what kind of savings investment can i make for her now?
2007-10-29 13:44:58 · 2 answers · asked by sims 1 in Business & Finance ➔ Personal Finance
4 things you can do:
1. Increase income
2. Reduce expenses
3. Increase Return of Investment (ROI) in your investment
4. Create multiple streams of income
Personally, I find that an internet business is an easy way to create a passive income because:
1. Requires small to zero capital
2. Gets started right away and easily
3. Allows you to work from home or anywhere in the world as long as there is an internet connection
4. Has unlimited potential to earn money
5. No age or education requirements
6. Doesn't need you to have to have a company
What you need to do is to learn about the internet business as much as possible to discover whether it is for you and what your strategy is. There is free information around.
Good luck.
2007-10-30 00:35:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
In many states you can start a 529 college savings plan. Look at investment brokers like Fidelity to get more information on these plans.
2007-10-29 20:49:21 · answer #2 · answered by Jay P 7 · 0⤊ 0⤋