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Message
re: savings for grandchild
Posted on 5/14/24 at 11:50 am to Mariner
Posted on 5/14/24 at 11:50 am to Mariner
I would want them to have it for school if needed, if they don't go to school, or if they do and there is money left I would like for them to get their first house, car or invest it themselves if they choose to do so.
The trust is a good idea, it's what we are looking to do for ourselves here soon. I am going to do some more digging on the 529 also. Thanks for input
The trust is a good idea, it's what we are looking to do for ourselves here soon. I am going to do some more digging on the 529 also. Thanks for input
2
Posted on 5/14/24 at 4:22 pm to tigergrl
Take it from someone like me who had leftover college money… it didn’t go for anything productive. I managed to save some and used it when I needed for important stuff but I blew through a lot. Still have some 20 years later…but Most young people just can’t grasp the concept of saving, so you would be doing them more of a favor maybe with the 529 to Roth and compounding that interest
This post was edited on 5/14/24 at 4:23 pm
Posted on 5/14/24 at 8:18 pm to tigergrl
You are welcome. It is an amazing feeling as a grandchild when grandparents are altruistic and bless the child growing up, whether it be for college, their first car or house, or just some spending money from time to time.
You are one good grandparent!
You are one good grandparent!
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