What is the best way to save money for your kids’ future college? ie. High Interest Accounts?
Posted by Admin in High Interest Savings Accounts on 11 13th, 2008 | one response
beg82920 asked:
I just had my first son and wanted to start a college fund for him. I know some high savings accounts currently pay 3% but was wondering if there was a better place to save money for him that will accrue more interest. Thanks
I just had my first son and wanted to start a college fund for him. I know some high savings accounts currently pay 3% but was wondering if there was a better place to save money for him that will accrue more interest. Thanks
Related Saving Money Posts
1 Comment »
RSS feed for comments on this post. TrackBack URL
Leave a comment
November 16th, 2008 at 11:44 pm
Long-term CD’s will pay better than savings accounts. Mutual funds or index funds might be a good investment if you have enough money to put in initially. Remember that the long-term trend of the market is up.
Also look into your state’s 529 plan. These also have tax breaks associated with them.