College Savings & 529
Results 51-60 from 205 articles
What to Do with a Large Sum of Money Given to Kids
Asked by V.M. from Erie
on July 26, 2010
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i guess i need to edit to say "Investing in what is a large amount to ME" My kids both recieved $300 from my grandmother's estate. They have some $50 savings bonds...
Answers
- I think what you do with it depends on what you're trying to do? Are you trying to teach your kids about saving? Investing? Putting aside money for college? I ...
- You could check into some money market accounts. I don't know how much is required to open one, but $500 should be plenty. You can put all $600 in one account, and t...
- I'm surprised no one has mentioned a 529 yet. If it's for your kids, I'd put it into something that has a dedicated purposed like a 529 which is for higher eduction...
Savings for Baby
Asked by J.R. from San Antonio
on October 21, 2009
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I just had a baby 4 weeks ago and I have a good friend who wants to start a savings plan for him. My question is has anyone done this and what is the best way to do i...
Answers
- Hi J., check out http://www.savingforcollege.com/ it has all of the 529 plans. You don't have to use one for Texas, you can use the best one to fit your needs. Congr...
- Hello, I have 2 little ones and a friend of mine said that the best one to join when the open enrollment is the Texas tommorows fund. He has it for his 2 daughters the...
- Robert at Fries Financial in College Station set up a 529 plan for us. He's incredibly honest and very easy to work with. Best wishes to you!
Can't Afford Life Insurance - What to Do?
Asked by M.T. from Minneapolis
on March 3, 2011
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Hi, we've been looking into life insurance. We decided term, about 250,000-350,000 for 30 years. We're in 40-45 year range. We decided on 30 years because we still ...
Answers
- You could look at decreasing term insurance where the benefit goes down as you age - it's intended to cover mortgages where the balance is also going down. I think yo...
- M., have you looked at Met Life? They are highly rated, treat their customers very well (my dad had Met and they were wonderful to us when he died) and their rates ar...
- Can you afford a lower amount of life insurance? Lets say $100,000? If so, then I would go that route. I do understand your worries; however, it would be better to ...
Inheritance Money
Asked by J.R. from Knoxville
on January 8, 2013
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My grandma passed away this past year and we ended up getting an unexpected check from her estate. My girls each got $500 and I got $5000. I am tryng to decide what ...
Answers
- Personally, I would never buy a boat. They are so much work, and so many things go wrong very easily. It is much, much cheaper to rent a boat for a couple of hours o...
- Put all the money in a 529 college savings plan for your girls. $2500 for each of them. That leaves you $1000 and I would add that to the emergency fund. $2000 w...
- It sounds like you have a pretty stable head on your shoulders! Good for you. NO BOAT I'd opt for putting all of it into your daughter's college funds. I und...
Emergency Fund/401k/College Fund/Savings
Asked by B.L. from Fresno
on September 15, 2012
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We put money into our emergency fund (trying to get it at 6 month living expense), 15% into 401k and try to max on our Roth IRA (10k/year is max), and then we put $50/...
Answers
- You're lucky and doing it right.....we are strapped living paycheck to paycheck and saving nothing! Not proud of it, but I am currently unemployed and my husbands com...
- I personally would get the emergency fund funded before putting so much into retirement accounts. A huge retirement account is great for when you retire, but if someth...
- You all make way more money than us! We do 15% on retirement fund that is automatically taken from my husband's check and about 10% on savings and that's it. It eats a...
Affording It All
Asked by J.V. from Chicago
on November 27, 2011
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It's that time of year when I do our 5 year financial plan, take a look at our long term financial health, and figure out our current priorities.
Well, I just did a...
Answers
- We have 4 kids..... using student loans, part time jobs, grants, etc. my two older ones paid their way. I wish we could provide that, but we couldn't. We did help w...
- I can't wait to read the answers you get because these are questions I ask myself all the time. We've been following Dave Ramsey's plan for financial living and it ...
- I don't know anyone who paid out of pocket for college, but I know a heck of a lot of people who went to college. Four year universities. Private liberal arts school...
Asking for Money
Asked by A.B. from San Francisco
on May 13, 2008
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Ok, so I need your thoughts on this one. We were invited to an acquaintance's daughter's birthday party. On the invitation, she asked that money be given instead of gi...
Answers
- It is tacky. and it puts the giver in an awkward position - when you give a gift, the recipient doesn't always know exactly how much it cost, but when its cash, its l...
- A., I personally wouldn't ask for moeny either. What i normally do if I dont know what to get for a gift, i get a gift card at a toy store or something for kids, th...
- That is way tacky!!!! I think that a gift card is fine, however, be careful as many stores are going out of business these days and cards are either not being accepte...
How Do You Manage Money in Your Household?
Asked by K.B. from Chicago
on September 3, 2012
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Managing money within a household is sometimes a magical fete for couples. Not everyone is skilled at managing money and some want nothing to do with this responsibili...
Answers
- We have one account and one income. I handle all of the money and paying the bills since I'm home. My husband knows everything that goes on with our money. We're on...
- We have one account. He is the only one working... for now... since I am in college. We make a budget every month. We go by that budget. We use the envelope system fo...
- i do believe that money issues are the main cause of divorce - mostly because it causes SO much stress to be strained financially. my hubby and i (after several yea...
Working Out the Finances in Marriage
Asked by A.B. from Chicago
on March 20, 2007
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Hi Moms,
I'm just curious to see how other families manage their financial situation. My husband works full time and I work almost full time running a small in-hom...
Answers
- Hi A., I am sure this could really be a heated discussion, but I would just like to say that no one person in a marriage should be entitled to more money than the o...
- Its a tricky subject. Good for you for getting into the details of your home. We treat the household as a business. Then what we did was figure out what our monthl...
- Well not to sound mean, but there seams to be a lack of communication there. My husband and I make a budget for the month. We write down all the bills that have to be...
Gerber Life Ins
Asked by S. from Las Vegas
on October 31, 2007
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Hi, I was just wondering if any of you have signed up for the Gerber Life ins program for your litle ones. I've been getting brochures in the mail scince before my son...
Answers
- You MUST have life insurance on all of your kids until they have their own full-time employment out of your home. However, I am not familiar with the Gerber product. ...
- I have gerber life ins for both of my kids, 13 and 2. I like the program very much. It is very affordable and it gives you many options on how to pay. I would recco...
- Actually S., we did sign up in 2001 for my first born entered the world. we did it maybe a day or two after we was born. Unfortunately, we was not expecting to collect...
