Friday, March 17, 2006

Day 25 - Never to early to think about college

Today's Tip - Set up a fund for your child as early as possible

Even if junior doesn't head off to be the big man on campus, it'd still be nice to have money around for his wedding, first house, graduation, etc. Or, if he opts to not go to college, toss the money in a Roth IRA and get his retirement well on its way. Or, buy yourself a boat!

There are many financial choices out there, and if you're new to investing, don't hesitate to talk to an advisor to get a feel for your options. If you pick a fund with stable, steady growth, the earlier you start, the better. The interest you earn will begin to compound itself, and the benefits of compounding only grow over time. Check out this article at MSN Money

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2 Comments:

Blogger SkylarKD said...

When deciding between infant collage funds, make sure to get one that allows your child to have the money even if s/he decides not to go to college! Some funds will only let you use the money for tuition.

6:55 AM  
Blogger Classic Jef said...

Too true, otherwise you're basically flushing money down the toilet.

6:25 AM  

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