Kid investments

[Rubberdown]

Hey there. I need to start saving for my kid to go to school, etc. are there any good programs out there that y'all can recommend? I just realized the first year has already gone by and I haven't saved anything for him yet.

[Maddox]

We have two kids and do the Vanguard 529 plan.

[OldRiverRat]

529 plan


Sent from my iPhone using Tapatalk Pro

[OldRiverRat]

Do a search here, there have been quite a few good threads on the subject


Sent from my iPhone using Tapatalk Pro

[lmartin5]

529 plan


Sent from my iPhone using Tapatalk Pro

This


Sent from my iPhone using Tapatalk

[12RingKing]

Roth IRA. They just need a source of income. Could be mowing, cleaning, etc.

In my opinion, there’s too many drawbacks of the 529.

[ntxshooter]

I'd suggest 529 plan for education

If you want to start a Roth (can be used for retirement, first house, emergency and education), it can be done, but the kid has to have some type of earned income that must be documented and realistic (can't say he earned 1,000 mowing your lawn last weekend). Furthermore, contributions cannot exceed the earned income. Personally, I started a Roth for my kid to get a jump start on retirement and teach him the value of long term investing. He has a 529 for education as I can (and just did) pull money without paying tax on the earnings.

Edit: Just re-read your post. You say first year went by so with a 1 year old, I'd just stick with finding a 529 plan you like. Otherwise for general savings a high interest savings account

[timoub007]

Look in to the Texas Tommorow Fund, prepay for the tuition at today's rates. We did this and also have 529 plans in place.

[texasdeerhunter]

I have a 529 for both of my kids, but I also contribute to a mutual fund each month for them as well. I looked at the Texas Tomorrow program; and while it’s a good program, it can only be used for tuition basically. The 529 allows for housing, books, tuition, etc. That’s why I went with a 529

[labman]

We started the Texas tomorrow fund and 529's for our three sons back in 2000/1. Now I have a freshman and junior in college and a HS sophomore. It's great to be able to 100% fund the total college cost of tuition,lodging books etc with money we set aside years ago.

I busted my a** to pay my entire way through college and walked away debt free with a 3.6 GPA in Economics and Finance. I told my kids you make a 3.25 or better, stay out of trouble, school is on me. They've performed better than I did academically, and the oldest is currently weighing which one of four internships to accept for this summer.

College costs and tuition are outrageous, there is no way any college is worth $40k and above. Maybe, just maybe a few select post programs in law or MBA are worth it, but only it you graduate in the top 10%.

Do something, college costs have risen more than any other metric in the past 20 years. The Tx tomorrow fund has outperformed all of our investments over the past 17 years. The fund is substantially more restrictive today than when we originally invested, but it's still a good deal. FWIW

[RiverRat1]

Tx Tomorrow Fund back open again? I know they closed it, opened it and maybe closed it again... Can't keep up.

I did the Coverdell plan and traded the money myself. Took some work this way but paid off.