• Stacy
  • Fort Collins, United States
  • 8 months ago

College fund 🤑

Have you all started or thought about starting a college fund for your little ones? What’s your strategy? Monthly deposits? Savings bonds?
  • K
  • Pennellville, United States
  • 17 days ago

We actually have three things happening.. A monthly deposit that goes in per child. And we actually have rental property that we can take a loan out when the time comes if that's what they want to do. And when they are five, they get to pick what stock they want to put in their birthday money in. We do this because it's more then just college it's for their future.

  • H
  • Wheatland, United States
  • a month ago

Neither myself or my husband had college funds. We had to take out student loans and pay for our own educations, so we're gonna have our kids do the same. Yeah student loans suck but it teaches responsibility and then we don't lose money if they drop out or don't use their degree.

  • L
  • Peoria, United States
  • 2 months ago

I know we offer this at cefcu (where i work) and alot of people do 529 i havent started one yet though.

  • A
  • Kearney, United States
  • 3 months ago

What happens if they don’t go to college but they have the 529 plan??

  • A
  • Kearney, United States
  • a month ago

Oh ok

  • R
  • Fairborn, United States
  • a month ago

Not an expert but my understanding is that it can be used for other education purposes, like private school or vocational school. You can also transfer it to another child. If you can't do any of that, there are penalties and taxes, but you don't just lose it all. May vary by state.

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  • H
  • Williamsville, United States
  • 4 months ago

We made a bank account for our little dude. We've put 100 in it a month and then when we got taxes we put 1,000 in there. We also just throw money in there if we have more than our budget with our savings. We are saveawhores though. We save a lot of our income!

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