Best Investment for an Education Fund.....

[michaelhazuka]

Vincent's been growing at an alarming pace....kind of scares me.....brings up a good point though. What is the best investment option for a private school/college fund that would mature in 14-18 years that would be accessible if needed???

I know someone out there has an answer.......

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[Shaughnn]

Great question, Michael. We need to do the same for Hannah. How old is Vincent now? Great looking baby, you got there. :tup2:
Shaughnn

[michaelhazuka]

I only looked at your initial pictures of Hannah.....you need to post an updated so I can see how much she's grown.

Vincent is 9 weeks as of yesterday....14 lbs 4 oz at the 2 month check-up, and he doubled his birth weight :yummy: . We need to slow him down a tad, but he likes to eat.........

[Davy]

Going off of my past luck, stick it under the mattress. :tup2:

Good looking boy, Michael. He's gonna be a bruiser. :)

[Shaughnn]

Here you go, Michael. I'll post another couple in the Baby Book ,..er,...I mean the "Photo Album. :)
Shaughnn

[michaelhazuka]

Shaughnn,

She has gorgeous eyes......you're in for trouble :eek: . Better plan on an educational fund and a wedding fund 'cuz she's gonna find a husband quickly......

[davem]

I've set up a monthly contribution to Michigan's 529 college savings plan. I wish I could afford a larger contribution than I've set up, but some is better than none I guess. :)
http://www.misaves.com I think most (all?) states have a 529 plan and they all differ.
Contributions on the MI plan are after tax, but deductible on state. It grows tax free and withdrawals for most educational expenses are tax free. I'm no money guru but this seems like a pretty good way to go. :)

[Shaughnn]

Thank you Michael. She's perhaps the happiest baby on Earth? It's a little difficult to remain humble when strangers go out of their way to tell us how beautiful she is and what an amazing disposition she has. :king: The gypsies definately earned their money on this one! :D
Shaughnn

[jdm]

What's CTEF going to cost in 18 years?

[Bugman]

Michael & Shaughnn, What beautiful children you both have. Enjoy every minute while you can. :goodluck:

[michaelhazuka]

What's CTEF going to cost in 18 years

I know that tile has brought a stable income for me and my family, but I'd like to see my child(ren) have some opportunities that weren't available for me at one time.

If he wants to sling mud......so be it. If he can go to college and abuse his mind rather than his body, I'm all for it.

[jgleason]

I'll second Dave's thought about the 529 plans. We have those setup for our kids, started late but still a good vehicle. Yuo do not have to stick with the 529 plan in your own state, you can access any of them. Some have different rules and fees so it pays to shop around.

[Tool Guy - Kg]

I'll third the "529" plan idea. And the plan can be transferred to another person within your family if you need (the list of those eligble is very extensive). I suggest finding a financial guy/gal for stuff like this...they are worth their weight. I'd suggest mine, Michael, but Green Bay is kinda far for him to drive. :D

[e3]

vacant land !

[opiethetileman]

we have a 15 yr old daughter and i bought some land alot of it actually. plus buying and flipping homes and partnering up. so when its school time land is for sale untill then i am just flipping homes. if you can afford to dit it worth the stress. the one I am doing now was 57k bad shape and goona turn it for low 200. I think when I am done i will have about 16 to 20 in it. Everything i have done myself including added a whole new bathroom and a new metal roof. and alot more. well If you have some extra change i would toss it into some land. the good thing about land is they dont make it anymore plus they cant steal it. Or like the stock market it doesnt crash it just goes up.

[chassis]

I'll 4th the 529 plan. We have one with Merrill Lynch, it is not state-specific. Pretty good returns.

Coverdell accounts are OK too. The idea with 529s and Coverdells is that the earnings are tax free. The contributions are not deductible on your tax return, though.

Which leads one to the state-specific tuition programs. We purchased a 4 year lump sum contract for my son in Michigan. It "appreciates" at the rate of tuition increase in the state. Which in the case of Michigan, is over 10% per year. The contributions are deductible on your state tax return, which is a sweet deal. The contract can be used in other states. If you use the contract in Michigan, tuition is covered at any state public institution. If you withdraw the funds to use out of state, the value is the *average* of state public institution tuition. So you lose some $$ by taking money out of state, which is the difference in tuition between the most expensive and the average state universites.

What a racket higher education is. Tuition is increasing far higher than inflation, and the benefit gravy train (huge 401k matches, tons of vacation, Rolls Royce medical benefits) just keeps rolling. Higher education is one of the last bastions of cushy employee benefits, IMHO.

[Shaughnn]

I friend I used to have had an uncle who loved to make jokes. When my friend was born, his uncle thought it would be funny to buy him some "Florida Swamp land" as a birthday gift back in 1966. 25 acres, and they built Naples around it. :bang:
Shaughnn

[Angie]

Just info on "Tuition is increasing far higher than inflation". The actual costs of the education are actually not increasing faster than inflation or not much. The tuition is going up because the state gov't are contribution less. Back in my day the state contribution covered about 2/3 the cost of my 4 year and my tuition paid the other 3rd. Depending on the college that proportion has flipped. States have been reducing their support of colleges so that now a student's tuition cost is covering about 2/3 (depends some on the college) and the state is covering only aobut 1/3. So the increase is only partly to cover rising costs and mostly to compensate for the reducing state contribution.

No defense....just info.

[Steven Hauser]

I think the 529 plans are safe and fine. I do however believe that a qualified financial investment advisor is in order.

:)