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investments/account for DS
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wannabemom
look who's freshly baked!
Member since 12/07 7364 total posts
Name:
aka marriedinportjeff
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investments/account for DS
hi
what did you do? mom would like to start a college fund for Eryk... (but she isn't going to give him thousands... likely a couple hundred?) I'm sure at his baptism he will receive more $$$..
what acocunt did you start for him? he obviously doesn't need to take any money out for quite a while.
a 529 requires regular contributions from a paycheck? if that's the that case, it wouldn't be appropriate for this... what's the highest interest option?
TIA!
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Posted 1/14/09 2:26 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
Octobermom
LIF Adult
Member since 1/09 972 total posts
Name:
Anna Maria
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Re: investments/account for DS
Hi --
I had a consultation for a 529 plan for my son and you don't need to contribute monthly -- it can be a one-time deal. Your mom may want to open a long-term cutodial cd account.
Savings accounts are just paying so little in interest -- it may not even be worth it,
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| Posted 1/14/09 3:00 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: investments/account for DS
We are going to open a 529. Seems like the best option IMO from the research I have done. That way the child has to use the $ for college.
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| Posted 1/14/09 3:03 PM |
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Kelly9904
Mommy to 2 amazing little boys
Member since 5/05 9306 total posts
Name:
Kelly
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Re: investments/account for DS
We opened a kids bank account at Bethpage FCU. It pays a much higher interest rate. We also have other contributions but I want him to have a little nest egg for when he gets older...not just money for college.
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| Posted 1/14/09 3:28 PM |
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