by evangelistscott » Wed Jan 28, 2009 04:42 pm
I was talking with a person who is interested in saving money towards her son's college tuition. Do you have a particular company in mind whereas, she can get the best return on her money. The little boy is 4 and she said she can put approximately $100.00 towards this policy.
Thanks
Thanks
Posted: Thu Jan 29, 2009 09:01 pm Post Subject: Best College Savings
It has a lot to do with where she lives. Different areas offer many different options. Low cost plans tend to be the best in the long run. State plans run by Vanguard, T. Rowe Price and TIAA-CREF tend to be the cheapest while also offering decent performance. Special college funds can be opened in banks too. It may take a little shopping around but I'm sure she'll find the best plan for her area and budget without too much trouble. Here are some good articles: *http://articles.moneycentral.msn.com/CollegeAndFamily/SavingForCollege/The5BestCollegeSavingsPlans.aspx
*http://www.kiplinger.com/features/archives/2007/08/best529s.html
Hope this helps! God bless. Take care.
Posted: Fri Jan 30, 2009 09:26 am Post Subject:
Yeah, 529 is the most attractive plan when it comes to save for your children's future. The 529 plan not only gives you the opportunity to save for their future but also help you to save tax. Moreover, the money withdrawn from this account also enjoys tax advantages.
Another option can be to invest in the state prepaid tuition program where the money would grow at the same rate of the college expenses.
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