February 7th, 2010 by MikeL
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So this is my preliminary stage of research. Apparently there are many options for me to choose from when it comes to investments for my childs future.
- Roth IRA’s
- Traditonal IRA’s
- 529 College Savings Plan
- ESA College Savings Plan
- Mutual Funds
- Certificate of Deposits
- Tax Free Savings Accounts
- Coverdell Savings Accounts
- Equity Investments
- Lotto Tickets
- etc….
With only 5k for investment, it doesn’t look like I can go after anything very conservative, by the time my daughter is 18 years old, the 5K would probably only be 7k and obviously that’s not going to work. I will assess my risk, time I have to take out of my day to manage, tax savings, and also the potential growth.
February 6th, 2010 by admin
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I know that this is coming all of a sudden, and I have given no fair warning that the end is near. I have decided to hijack my own blog and turn into a journal for my own endeavors. Mainly a record keeping journal to my goal of making a college for for my baby girl that was born on New Years Eve!
By the time my daughter is 18 years old, hopefully I would have turned my initial $5000 dollar investment, into a fund that can pay her way through higher education. If she decides not to go to college, then a fund that will surely give her a head start in life.
If you don’t care about my journal and just want to get the same old technology news, I recommend you visit Lifehacker or Consumerist. Both are Great blogs on technology and consumer related info.
Wish Me Luck!
So this is my preliminary stage of research. Apparently there are many options for me to choose from when it comes to investments for my childs future.
