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-   -   I want to start a college fund for my niece v. need advice (http://www.genmay.com/showthread.php?t=846171)

BlisterDick 05-26-2014 09:26 PM

I want to start a college fund for my niece v. need advice
 
I've heard of the Gerber plan but not sure if that's only for parents. Does anyone here have experience with this? What types of plans are available. Should I just start a regular savings plan? Thanks in advance.

Sup 05-26-2014 09:27 PM

set up a money market account investing in low cost index funds

Sup 05-26-2014 09:27 PM

vanguard is p good

OneWhoKnows 05-26-2014 09:29 PM

It really depends on how much you plan on providing, whether you'll be contributing to it monthly of it it's a one-time thing.

BlisterDick 05-26-2014 09:30 PM

the % rate is better than your run-of-the-mill savings acct?

BlisterDick 05-26-2014 09:31 PM

[QUOTE=OneWhoKnows;25330331]It really depends on how much you plan on providing, whether you'll be contributing to it monthly of it it's a one-time thing.[/QUOTE]

I would like to contribute a fixed amount monthly with the ability to increase the amount when my financial situation gets better.

OneWhoKnows 05-26-2014 09:41 PM

[QUOTE=BlisterDick;25330336]I would like to contribute a fixed amount monthly with the ability to increase the amount when my financial situation gets better.[/QUOTE]

Level of risk needs to be taken into account. Anything tied to the market, regardless of historical performance has risk. Especially right now, there are a lot of inflated market prices and it's anyone's guess when that's going to regulate itself.

If you're looking for something where you don't have to actively manage your money, I'd suggest you look into betterment.com.

Savings accounts are all going to be sub-1%.

BlisterDick 05-26-2014 09:43 PM

[QUOTE=OneWhoKnows;25330362]Level of risk needs to be taken into account. Anything tied to the market, regardless of historical performance has risk. Especially right now, there are a lot of inflated market prices and it's anyone's guess when that's going to regulate itself.

If you're looking for something where you don't have to actively manage your money, I'd suggest you look into betterment.com.

Savings accounts are all going to be sub-1%.[/QUOTE]

Thanks.

Yes, I'm not looking to one-up the market and make miles more than my dollar is worth... just a good, safe place to save money that can be used in 18 years.

OneWhoKnows 05-26-2014 09:48 PM

[QUOTE=BlisterDick;25330364]Thanks.

Yes, I'm not looking to one-up the market and make miles more than my dollar is worth... just a good, safe place to save money that can be used in 18 years.[/QUOTE]

The nice thing is, the market historically grows and assuming there isn't a huge stock exodus/great depression/shit hits the fan, as long as you keep your money where it is, it'll recover. 18 years is a long long time away, so I'd suggest you find a nice stable fund that keeps pace with inflation and keep putting money in. :cool:

BlisterDick 05-26-2014 09:52 PM

[QUOTE=OneWhoKnows;25330371]The nice thing is, the market historically grows and assuming there isn't a huge stock exodus/great depression/shit hits the fan, as long as you keep your money where it is, it'll recover. 18 years is a long long time away, so I'd suggest you find a nice stable fund that keeps pace with inflation and keep putting money in. :cool:[/QUOTE]

Nice, thanks for the advice :cool:

5ive 05-26-2014 10:03 PM

steal from your wealthy father in law who owns a business

mikeawesome 05-26-2014 10:16 PM

barclays saving is at .9%

aoeoae 05-26-2014 10:58 PM

529

aoeoae 05-26-2014 11:03 PM

[url]http://www.dailyfinance.com/2012/06/04/529-college-savings-plans-what-you-need-to-know/[/url]

jessican 07-24-2015 12:10 AM

But should have knowledge before investment.


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