I have spent several hours researching college savings plans for Preston (a great thing to do when its freezing outside and you are bored out of your mind). I didnt realize how much more they say a college education will cost by the time he is 18. Blew my mind!! So I think i have found an investment plan to help me reach that goal, but I do want to ask if anyone else out there has done some research and opened one of these for their kids. If so, do you like it and has it helped very much at all?
I plan (haha- like plans work for our kids) on him getting some sort of scholarship anyway (fingers crossed) in sports or academics and i like the way you can transfer them to another sibling if that happens or ask for a penalty free withdrawal if they receive a scholarship. Its kind of like a reward for you if your child does a great job in school or sports!! :)
I dont want Preston trying to pay off a never ending student loan like his mama, but the cost of things is starting to scare me. And i still have 16 years before it happens. sigh.
Dont even get me started on retirement. Maybe if he gets a sports scholarship, he can then play something professionally, and take care of mommy for the rest of her life! Like a good little man. lol
If you start one for him you will have to have one for any other kid you have later or they will never let you forget that you love your first born best! I think it's great you are thinking about this so far in advance. GL
ReplyDeleteSo True. I just hope one of them does something so we dont have to pay for it!!
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