We decided to opt out of the college fund and have a custodial UTMA, so our daughter has a choice what she uses the money for. We put $200 in a month for now. I also invest most of it in the stock market to create more income. So far so good.
I started an RESP for my daughter shortly after she was born and a monthly deposit of $50 goes into it ☺️
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.
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.
I know we offer this at cefcu (where i work) and alot of people do 529 i havent started one yet though.
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