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BlisterDick
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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.
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Old 05-26-2014, 09:26 PM BlisterDick is offline  
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set up a money market account investing in low cost index funds
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Old 05-26-2014, 09:27 PM Sup is offline  
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vanguard is p good
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OneWhoKnows
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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.
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Old 05-26-2014, 09:29 PM OneWhoKnows is offline  
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the % rate is better than your run-of-the-mill savings acct?
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Old 05-26-2014, 09:30 PM BlisterDick is offline  
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Quote:
Originally Posted by OneWhoKnows View Post
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.

I would like to contribute a fixed amount monthly with the ability to increase the amount when my financial situation gets better.
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Old 05-26-2014, 09:31 PM BlisterDick is offline  
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Quote:
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I would like to contribute a fixed amount monthly with the ability to increase the amount when my financial situation gets better.

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%.
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Old 05-26-2014, 09:41 PM OneWhoKnows is offline  
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Quote:
Originally Posted by OneWhoKnows View Post
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%.

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.
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Old 05-26-2014, 09:43 PM BlisterDick is offline  
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OneWhoKnows
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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.

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.
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Old 05-26-2014, 09:48 PM OneWhoKnows is offline  
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Quote:
Originally Posted by OneWhoKnows View Post
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.

Nice, thanks for the advice
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Old 05-26-2014, 09:52 PM BlisterDick is offline  
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Old 05-26-2014, 10:16 PM mikeawesome is offline  
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Old 05-26-2014, 11:03 PM aoeoae is online now  
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But should have knowledge before investment.
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