Putty Posted December 29, 2008 Report Share Posted December 29, 2008 So I have the little girl on the way. I guess it's time for me to start a savings plan for her. I am slightly familiar with the 529 plan. Are there any others? Pros/cons? Does money go in these weekly or monthly? Quote Link to comment Share on other sites More sharing options...
RedRocket1647545505 Posted December 29, 2008 Report Share Posted December 29, 2008 No advise to give, but, smart man for thinking ahead. Quote Link to comment Share on other sites More sharing options...
Radio Flyer1647545514 Posted December 29, 2008 Report Share Posted December 29, 2008 The 529 is a protected college plan. My grandparents played in the stock market for part of my college fund, and my mom just did an annuity for me for money. None of those are protected, so quite a few thousands of dollars were lost in this last year. At least two full years of tuition at OSU is gone now. Play the stock game CD's Annuities Bonds Quote Link to comment Share on other sites More sharing options...
Akula Posted December 29, 2008 Report Share Posted December 29, 2008 I have a 529 for both of my children. I also have an education IRA for both of them. Quote Link to comment Share on other sites More sharing options...
Putty Posted December 29, 2008 Author Report Share Posted December 29, 2008 I dont wanna play in the market with this. I know it's a 17 year savings, so I think a 529 at like $10 a pay or whatever will be a decent savings. Quote Link to comment Share on other sites More sharing options...
Radio Flyer1647545514 Posted December 29, 2008 Report Share Posted December 29, 2008 I think the minimum is 25 instead of 10. Maybe not, I'm not 100% on that. Playing in the market a LITTLE is probably still a good idea when the economy starts to rebound. My grandparents did EXTREMELY well in the market before the crash. Before the crash they had enough money for more than half of my tuition for 4 years of school. Quote Link to comment Share on other sites More sharing options...
2highpsi Posted December 29, 2008 Report Share Posted December 29, 2008 At least two full years of tuition at OSU is gone now. Before the crash they had enough money for more than half of my tuition for 4 years of school. So it's basically all gone? Quote Link to comment Share on other sites More sharing options...
Radio Flyer1647545514 Posted December 29, 2008 Report Share Posted December 29, 2008 As far as money that was in the stock markets yes almost all of it is gone. Quote Link to comment Share on other sites More sharing options...
Akula Posted December 30, 2008 Report Share Posted December 30, 2008 Here is the thing I have noticed for a while now. Lots of people give advice to invest in the stock market, but if the market crashes the day you need the money you are screwed. My Education IRA and 529, are tax sheltered and should be worth atleast 2 years of tuition but who knows. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted December 30, 2008 Report Share Posted December 30, 2008 Yo, you need to diversify your bonds. Quote Link to comment Share on other sites More sharing options...
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