Baby College Funds????

Question

I am a God mother and my God son is turning 2 in August! I am hoping to start a college fund in his honor but have no idea where to start! Do any of you have any for your children??? What should I do?

Answer

Look up a 529 plan. My husband is a financial advisor and set one up for our son.

Answer

We.have a college fund set up. Ot is through a state savings fund account so that ot can still be deducted for state taxes. We have a direct withdraw of $50 going in that we can add extra every month or change the amount. We also have a link people can have if they want to gift her money for bdays/xmas ect. We sent them the link and they can donate whatever and it sends them a tax reciept. From our website account we can manage the account and change the levels of investments/ect. Right now she is getting 3.5% interest growth every month. There are a a lot out there just make sure you or her parents find one that doesn't take a % when money is used later. We found one that took 5% of the amount when you used the funds

Baby College Funds????

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