Comments on: How Soon Should You Start Saving for College?

By: cars

cars — Fri, 17 May 2013 12:33:05 +0000

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Here are some great tips on buying a car.

By: Casa Myers

Casa Myers — Sat, 29 Sep 2012 23:50:07 +0000

Hello Ana,
My husband is a Certified Financial Planner and we use both the Bright Start 529 and our Mass Mutual Whole Life. SunOcean18 is correct, other states offer better rated plans. Bright Start has a better rating then Scholar Share and your readers might do best by consulting their Financial Planner. If you don’t want to pick your own investments, the age-weighted or “years to college” approach might serve you better. Rather than trying to review all the companies directly, consult a Financial Advisor who will review them with you.

By: Ana Flores

Ana Flores — Tue, 25 Sep 2012 22:47:12 +0000

Yes, you’re correct on that! Thanks for making the point

By: Ana Flores

Ana Flores — Tue, 25 Sep 2012 22:46:30 +0000

I love the idea of asking family and friends to contribute their instead of more and more gifts we really don’t need.

By: Ana Flores

Ana Flores — Tue, 25 Sep 2012 22:45:32 +0000

I had no idea that life insurance could be tax free or even thought about using it for college. We do have life insurance covered, so I’ll look into that. Thanks!

By: MomOfThree

MomOfThree — Tue, 25 Sep 2012 21:26:59 +0000

Another College savings option to consider is life insurance (whole not term). Speak to your financial advisor or google infinite banking. These plans have guaranteed growth and can also be opened with small monthly payments. They create cash values that you can use for college. With 529s it is possible for your investment to suffer a loss from year to year. Another benefit is that it is tax free (not tax deferred). Just another option for college savings worth mentioning.

By: Sunocean18

Sunocean18 — Tue, 25 Sep 2012 16:24:22 +0000

We opened up a college fund for both our boys when they turned 6 months. My oldest son is 3 years old now and I’m so happy to see his account growing. We opened up a 529 plan as well, but not the one from California. Many people do not know that you don’t have to set up your 529 plan in California – all states offer them and some outside our state are rated even better. One can research “best 529 plans” and read articles on how well some do/do not perform.

By: Ana

Ana — Tue, 25 Sep 2012 15:36:14 +0000

We opened a 529 account for my son when he was baptized at 3 months old. When relatives ask what to get him for birthdays or holidays, we generally ask for either books or cash for his college fund. That is how we have been funding it so far. Now that we have a little girl as well, it has become the fund for both. All the cash goes to their account and it will be shared by both. My son who is 4 and knows it is for college and he knows the path: preschool, kindergarten, “school”, college. :0)