- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Saving for my kids college
Posted on 4/9/13 at 7:19 am
Posted on 4/9/13 at 7:19 am
I have 2 kids. a 2 year old and and 3 and a half year old. I have been saving since they were born. Alabama's prepaid tuition program is basically bankrupt, so this is not an option. I really want to keep the risk to a minimum. I have about 10k for them so far and save 100 a week. Where would be the best place to put this for 15-16 years and get the most with the least amt of risk? thanks
4
Posted on 4/9/13 at 7:25 am to keeton350
Why not a 529 plan?
Posted on 4/9/13 at 7:36 am to keeton350
Fully research IRS Code Sec. 529 law before consideration. Understand risk of investments you choose combined with coordination of assets entrusted in your children's names to FAFSA filing. I do not use any government established tax law "savings plans" for this or any of my future savings desires.
Posted on 4/9/13 at 8:55 am to BestBanker
quote:
I do not use any government established tax law "savings plans" for this or any of my future savings desires.
Posted on 4/9/13 at 8:56 am to BestBanker
quote:
I do not use any government established tax law "savings plans" for this or any of my future savings desires.
why not ?
Posted on 4/9/13 at 9:47 am to BestBanker
quote:
BestBanker
OP:
Default answer will be a 529 plan. I would consider putting that money in a Roth instead if you are eligible and not already maxing those out. $5200/year may not end up being needed for college and the Roth will give you more flexibility down the line ie. you can use it in retirement instead.
Posted on 4/9/13 at 11:26 am to keeton350
Alabama's new 529 plan (College Counts) through Vanguard is the way to go.
Posted on 4/9/13 at 3:11 pm to jmtigers
For so many reasons, I do not have the time to fully explain the myriad of details that surround my financial life. Many sheeple choose to do only what they know, and that tends to comfort them. No aliens. I like privacy in my savings plans and using the federal government savings tax laws do not offer privacy, nor do they fit into my current structure of wealth creation, asset protection, liquidity, and estate conservation. Do some important self-research instead of following the company mantra and you may find success in other avenues.
Posted on 4/9/13 at 3:50 pm to BestBanker
Well, spread the knowledge instead of being so vague. Nobody here knows who you are.
Posted on 4/9/13 at 4:21 pm to BestBanker
quote:
For so many reasons, I do not have the time to fully explain the myriad of details that surround my financial life. Many sheeple choose to do only what they know, and that tends to comfort them. No aliens. I like privacy in my savings plans and using the federal government savings tax laws do not offer privacy, nor do they fit into my current structure of wealth creation, asset protection, liquidity, and estate conservation. Do some important self-research instead of following the company mantra and you may find success in other avenues.
el oh el
Posted on 4/9/13 at 4:31 pm to BestBanker
quote:
I like privacy in my savings plans and using the federal government savings tax laws do not offer privacy, nor do they fit into my current structure of wealth creation, asset protection, liquidity, and estate conservation.
So you're a drug lord?
Posted on 4/9/13 at 5:13 pm to BestBanker
Well then what do you recommend oh wise one???
Posted on 4/9/13 at 6:21 pm to BestBanker
Ah - mattress and cash. Gotcha.
Posted on 4/9/13 at 7:16 pm to AngryBeavers
quote:
So you're a drug lord?
I like Advil.
Good for the swelling.
Come back tomorrow for more....
Same Bat-time.
Posted on 4/9/13 at 8:44 pm to BestBanker
Sure, I'll check in tomorrow, but it would be great if you didn't.
Posted on 4/9/13 at 10:10 pm to CajunAlum Tiger Fan
I have mine in a form of "conservator" plan. It is an investment model that allows for the assets to be used for any purpose at maturity. So if my kids need money for college, they've got it. If they get full rides to college, they have a downpayment on a house, etc.
Unless you know a segment of the market and can actively manage the investments, your best bet is to be conservative. The best gains in their accounts have been energy companies on DRIPs.
Unless you know a segment of the market and can actively manage the investments, your best bet is to be conservative. The best gains in their accounts have been energy companies on DRIPs.
Posted on 4/10/13 at 7:37 am to tigerskin
quote:
Well, spread the knowledge instead of being so vague. Nobody here knows who you are
Says the url computer genius.
Ok. We'll start with a basic question first:
Why does there seem to be a great fear of not having sufficient assets to pay for a child's higher education expenses 10, 15, or 18 years down the road?
Keep your answer simple, and ease up on sarcastic, witty responses. This is not a trick.
:inb4ihavetostartsavingnowforthefuture: (I get it)
I'll check back later. Busy enjoying a half-day off!
Posted on 4/11/13 at 7:17 am to BestBanker
IRS has the Power to Read All Digital Content
I only added this because many of us don't want to accept reality.
Be wise and prudent.
I only added this because many of us don't want to accept reality.
Be wise and prudent.
Posted on 4/11/13 at 7:56 am to Sigma
quote:
Alabama's new 529 plan (College Counts) through Vanguard is the way to go.
This is what I use for my 3 yr old
Posted on 4/11/13 at 8:20 am to BestBanker
"Sheeple" is such a useful word because it immediately tells you so much about anyone who uses it. "Hegemony" is the same way.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News