Kids college fund?

[Blake8504]

To the financial gurus out there. I want to start a college fund for my son, not sure what is the best one out there. Any advice? I know Dave Ramsey will have to have some input on this once I get his book in..

[rsquared]

start now, the most popular is a 529k program and then you can choose who you want to invest with underneath that program.

we have both girls under a 529k with American Funds, but there are many others available to you.

[HoustonHunter]

529 Plan

[TexaRican]

Collegeboundfund

https://www.alliancebernstein.com/abcom/Product_Center/ABI_Home/CBF/CBF_home.htm

Been putting money in this one for 10 years and expect to be able to pay my kid's tuition with no money borrowed. (she's 15) This fund has consistently outperformed my IRA and any other investment I have looked into over that time period.

[Sparkles]

Don't rule out Roth IRA

[Rush2Judge]

start now, the most popular is a 529k program and then you can choose who you want to invest with underneath that program.

we have both girls under a 529k with American Funds, but there are many others available to you.

This. We started both boys early. Once you figure out how much you think you need to contribute, add 50%. It is difficult to do but it is very rewarding to know when they finally get there, you have it covered. Our boys really appreciate it and understand why they didn't get and don't get nice cars to drive. A '95 Jeep and a 2000 suburban. It's all about choices.

[Codie]

just what they said - 529 plan - You can google Texas 529 Plans and get all the info you could ever want on them -

[Blake8504]

start now, the most popular is a 529k program and then you can choose who you want to invest with underneath that program.

we have both girls under a 529k with American Funds, but there are many others available to you.

yeah I'm trying to start as early as possible, he's only 11mos. I wish I would've started it sooner...

[Blake8504]

is the 529 plan for Texas Colleges only?

[Rush2Judge]

I know a family that took a different approach. They have four kids and after each was born, they bought a house that was in pretty bad disrepair, they would fix it up and then rent it out. By the time the kids were ready for college, the house was paid for and he just applied the rent payments to college. He has his own remodeling business so it worked well for them.

[Brooks]

is the 529 plan for Texas Colleges only?

No. It can be used for any education expenses. If your son decides not to go to school after high school any one in the family can use it.

Read Dave Ramsey before you start the 529.

[CWaller30]

We have the 529 set up for my son.

[DorothyNotKeegan]

I opted to utilize an IRA versus 529...

[Sparkles]

Kids college fund?

I opted to utilize an IRA versus 529...

What type of IRA?

[Blake8504]

I opted to utilize an IRA versus 529...

was this incase your kid decided not to go to college?