best mutual fund
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Bright Directions College Fund
Asked by K.G. from Chicago
on July 26, 2008
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My husband wants to set up this college fund for our son. I'm not sure if it is really a good investment or not. Could there be a better or different one to use. Any s...
Answers
- I invest in Bright Start Illinois 529 plan. You get a nice tax break if you are an Illinois resident. I started with the Upromise fund and when I had my taxes done t...
- The Illinois Bright Starts one is considered one of the best in the country. It has lots of investment options, shows good returns (remember the market is awful at pr...
- Brightstart of Illinois was the best option we could find. There are different levels you can pick, safe to risky, and you can also transfer it to another child or adu...
College Savings Fund
Asked by C.E. from Washington DC
on September 22, 2006
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I'm trying to be responsible and start a savings account for my daughter's college, but there seems to be so much information that I'm overwhelmed. Can anyone give som...
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- Hi, I want to give you a word to the wise now. The more money you have in savings or more specifically the more money that your child has in their name means the l...
- My husband and I enrolled in one of the state sponsored TAP 529 accounts for our son. There are two types. One, you deposit money and it goes directly toward the purc...
- We've been doing 529 funds for our two kids (12 and 7). We put in about 150 a month per child and cross our fingers. The plans are set up to decrease the risk level of...
What Is the Best Online Savings Account??
Asked by A.S. from St. Cloud
on January 9, 2008
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I am wondering what other moms are doing for savings? And what is the best online savings account offered right now?
I signed up for a savings account (ING Direct) ...
Answers
- hi i also do a in home day care since june of 2007. its going good so far. learned allot and enjoying being home with my 18 mth old as well. i can say i just have sa...
- I also signed up with the ING orange account, also for the bonuses, but my husband is encouraging me to switch to Vanguard. I opened up accounts for both of our kids(...
- I was going to actually suggest an ING Orange account. that is what i have and it is a very competitive rate, most banks don't offer more than 1.5% for a liquid saving...
College Saving Funds
Asked by M.T. from Minneapolis
on December 11, 2010
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Hi, not that just saving for retirement is hard enough, I realize that we need to start saving for my son's college (he's 14 months now). How do you save for your chi...
Answers
- My husband and I both graduated college with a fair amount of debt and are working to pay that off, as well as pay our mortgage, car payment, and save for retirement. ...
- 529 is the way to go. Talk to a financial planner about the options out there. You can use any state's plan...whatever is doing best. AND there comes a point where...
- You don't need to pay a financial planner to learn about a 529 plan. It is set up like an IRA, so you can talk to your personal banker. I work in banking and we have...
How Much Do You Contribute for College/savings??
Asked by L.M. from Springfield
on February 21, 2011
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How much if any do you contribute to your child's college and/or savings fund. I decided to become a SAHM about a year ago to raise our son and daughter which has been...
Answers
- My two older sons (5 and 2) are enrolled in a state pre-paid college program. My 5 year old is paid in full and we owe another couple years on my 2 year old's acct. ...
- We also do $50/month. It's not much, but it will at least help pay for a little bit that first year of college. Like others have said, I paid for school on my own, an...
- We were very fortunate that my mother purchased the Texas Tomorrow 529 fund the first year it came out. She paid about $4000. Our daughter is now a double major jun...
Investing/Saving Question
Asked by R.W. from Salt Lake City
on March 6, 2011
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I'm hoping some of you are financial gurus who know a lot about investing and can help me with a question. As of right now, we are 100% debt free (about to purchase a...
Answers
- I agree - a finanical advisor can help. If you know you'll have the money each month and you already have emergency funds, I'd say invest in a mutual fund. I recommen...
- When I was a financial planner, we looked at a few major areas. That you have no debt and some emergency savings is wonderful. Does the $10K savings include the down p...
- I am a financial planner also. Jennifer S has a great response. The only thing I would add is that if you get advice from a financial planner, look for someone who is ...
Info/Advice On Equity Index Universal Life Insurance
Asked by T.D. from Sacramento
on August 31, 2009
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My husband and I are trying to figure out if this is a good idea for us. My husband is 34 and I'm 30. We have a 3 month old son. We didn't think about buying life i...
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- Hi, I used to be a life insurance agent. What I learned from my experience was that any life insurance, term or whole/universal life, is a financial product design...
- I asked my husband about this (he is a financial adviser) and he thinks its a pretty good deal. He said "you will have life insurance on your son which a mutual fund w...
- RIP OFF! Universal life insurance is on of the WORST financial products out there. Insurance agents push it because they get huge commissions on it. Ask about the fees...
Divorce/Child Support
Asked by O.M. from Dallas
on September 2, 2011
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In Feb, he stated he was filing for Divorce.. this after many attempts at counseling, praying, counsel with folks at church. I finally said enough is enough... Ok, let...
Answers
- First of all, I am sorry for what you are going through. Secondly, my main concern here is that he will get the kids half the time. That worries me. Do you feel h...
- Please do not wait another day to get an attorney. It is worth every penny for you to have someone watching out for your interests and who knows the law. You can tak...
- If he has an attorney, then you better get one also. You need someone who is familar with all the ins and outs, and who will protect your rights. Laws vary from st...
Sahm's: What If Your Husband Told You to Get a Job, So He Can Quit His?
Asked by S.H. from Honolulu
on October 14, 2011
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I've been a SAHM, for 9 years.
Hubby has a job.... but the employer sucks. They are dishonest and jerk the employees around.
Hubby has recently started looking for a...
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- I would go make him a sammich and start looking for a job!
- Susan, I am just sending good thoughts your way. I am hoping your husband was just frustrated and talking without thinking and will come around. You always give real...
- I would lose respect for him. Mine is in a wheelchair with a breathing machine to help him get oxygen. He still tries to manage the money, to invest any left over to ...
The Goodness as SAHM?
Asked by J.L. from Chicago
on May 18, 2012
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I see a lot of negatives about trust with husbands and access to money etc...Well I am taking the leap here soon and taking the "sabatical" from corporate life at leas...
Answers
- There are lots of positives to being a SAHM. I love being one. I love having time with my son and being able to play, laugh, and teach him things. I see him growing so...
- My husband works full time, I work part time. He pretty much pays all the bills. I handle the household budget and take care of the bills. He asks me if he wants to ...
- How to spend money will always be an issue amongst marrieds, but the attitude is that its our money. I think this attitude was fostered from the beginning when we joi...
