mutual funds
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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...
What Are the Options to save Money for Baby's Future?
Asked by A.H. from Dallas
on January 2, 2008
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I would like to invest money for my baby's future. What is the best investment option from your experience? I was looking into buying trust funds, but I am not sure if...
Answers
- Take a look at this website: www.thesimpledollar.com He gives a lot of sound financial advice from his own personal viewpoint and experience. An additional bonus is ...
- If you are still looking, give me a call...I am a working mom in Austin and I am also a financial adviser. I set up 529 plans for both of my children under 2. There ...
- We went though our State Farm Agent and set up a college fund for our son hes 4 and I think its worth $7000 right now! So my suggestion would be to contact your insura...
Striking a Balance Between Saving and Spending
Asked by J.W. from Chicago
on October 14, 2009
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Let me start by saying that I realize that this may not see like a “problem” to many of you especially in light of the last 12 months. Rather, I am trying to gain...
Answers
- While I think that it's great that you are planning ahead and trying to be practical, I have to say that you don't seem to have any real issues here financially compar...
- Hi J.- It sounds to me like you and your husband are doing very well financially and have a great safety net in the event that something like a job loss should happ...
- It sounds like you are doing great. I know from talking to financial planners that if you have to choose between retirement versus education, you should first fund re...
Invited to an Out of Country Wedding That We Can't Afford!
Asked by S.S. from Los Angeles
on January 17, 2012
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My good friend recently sent my husband and me an invitation to his wedding which will take place in Japan. In the body of the message (this was an email - real invit...
Answers
- So don't offer an excuse, just say you're not coming. :)
- Like he said, "no excuses." Simply RSVP that you are unable to attend a wedding that is out of the country. Don't offer any reasons in your initial RSVP. The fact i...
- i'm not sure i understand the angst, or why you feel awful. unless he's a real douche, surely he understands that this is an expense not everyone can afford. all invi...
Online Bank Account for My Toddler?
Asked by L.Z. from Chicago
on July 28, 2008
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Hi Moms! I recently emptied my daughter's piggy bank and was going to open an online savings account (they pay higher interest than regular banks) in her name with th...
Answers
- Depending on the amount of money or what your intentions are for the future, have you considered opening a trust for her? I think there are different ways of setting i...
- If you have enough money you may want to go the route of a CD. A CD earns more interest and some can be opened with as little as $500. Or even consider a Mutual Fund...
- We have a custodial account for our kids at Chase. We also have an Ameritrade account for them to invest, etc. I believe you can do quite a bit there other than just s...
Banking in HV/FM Area
Asked by J.C. from Dallas
on April 17, 2007
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My family will be moving to the area in June and I'm looking for a bank. In researching some in the area, at a quick glance I am leaning toward Bank of America. Does...
Answers
- We are quite happy with Bank of America. Free online checking and bill-pay, and I can't recall ever being anywhere that I couldn't find a Bank of America ATM. With 2 ...
- If you're new to the whole Dallas area, I would suggest you make your choice based on where you will do your most living / what you need. For instance, if you constant...
- I have heard nothing but horror stories about BofA. I bank with Chase and have been with them for 8 years, they were Bank One back then. I love them.
Educational Savings for Your Child's Future
Asked by J. from Memphis
on January 30, 2008
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Has anyone started an educational investment account for their child/children?? I was just wondering who you went through, and if you are happy with the service. I'm...
Answers
- I started a Upromise account for my daughters 6 years ago. What Upromise does is give you savings toward college when you buy items from participating companies. You...
- Last year I was faced with the same problem. Not sure which plan to go with, I spoke to some of the employees at my bank. I met with an investment specialist that is...
- We went with a friend of ours who is an Investment dealer. Her name is Lana K. Caldwell-Wargo and she works for PFS Investments ###-###-####. We were looking into ed...
Do You Have Gerber Life Insurance
Asked by J.K. from Dallas
on February 26, 2007
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I don't know if I should get Gerber Life Insurance for my 2 year old. My father has one policy for her (he gets one for all the grandkids) but he's 69 now, and I don'...
Answers
- why don't you look and see if your work offers it first? I pay $1/month for my son's life insurance through work. If your father took out a policy on him, he doesn't p...
- i have it for all 3 of my kids. 18,15 and 5. my main reason for getting it as it helps towards college but they have to be 20 or 21 to get it though. but by that t...
- Not worth much- go term!It's a better deal w/ better outcome. Go to www.daveramsey.com to get more info. D.
Gerber Life Insurance/College Fund
Asked by C.S. from Milwaukee
on January 31, 2012
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Hi Mom's
Anyone have or is looking into the Gerber LI/College fund?
Opinions?
Thanks!
Answers
- Go with 529, or a state college savings plan. If they don't go to college? Cash it in. There will be a penalty, sort of like cashing in your retirement plan early...
- Better off opening a 529 than doing the Gerber thing.
- I think there are better ways to save money for your child's college. And life insurance for a child is pretty dumb in my opinion. The chances of a child dying are ver...
Life Insurance Information
Asked by M.H. from Los Angeles
on March 20, 2007
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As a single mom I know that I am the only ones my kids can count on. I hate to think of what would happen to my kids if I wasn't around. Though I don't like the thoug...
Answers
- Dear M., I briefly (for about nine months) worked for MetLife, went through the licensing procedures and sold life insurance, health insurance, and mutual funds. Th...
- Hi M., First off, with all do respect, I am not sure where some of the ladies here have researched their information on Life Insurance but I know someone personally t...
- I am E. I work for an Insurance Agency. Im not Licensed in Life but my Boss is. If you really want advise in this subject I would HIGHLY recommend you talk to her. She...
