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#1
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Re: Newborn Investment Ideas
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research 529's i know they can be good but i think theres penalties u have to worry about and limits on the amount in can grow to or used But if u have an IRA for yourself put it in there bc it doesnt matter if you end up growing it to more money then is needed for his education and you can take money out of your IRA for educational purposes with out penalty so that seems to be the way to go (theres a chance it might just be for roth but i dont think so) AND CONGRATS ON BECOMING DAD! [/ QUOTE ] You can put way more money into a 529 plan than an IRA. |
#2
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Re: Newborn Investment Ideas
but i think you dont want it to grow to more then the cost of the education bc if its more and u take it out and dont use it for education theres like a 10% penalty or something, i dont remember exactly but if u want more specifics pm me and i could get a hold of the info but i know they can be great to especialy for grandparents to set up
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#3
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Re: Newborn Investment Ideas
Chinese yuan also known as Renminbi. The currency, not the country or the stock market.
Much better, would be spending the 5K on Chinese language lessons when he turn 2 years old, or whatever. Honestly, for someone with a long term outlook, like a baby, these are the most conservative investments I can think of. |
#4
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Re: Newborn Investment Ideas
I meant turns, not turn. Please do not report me to the Spelling Police as the Punctuation Police are already chasing me in another thread.
Great, on further review I think I should have put a comma after Yuan. Can anyone tell me if I spelled Renminbi right? |
#5
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Re: Newborn Investment Ideas
Thanks for the responses guys. I'm currently researching the 529 plans and will post whatever I end up with in case it's of any interest. I think a 529 will be good because when he turn 18 he can use it for college.
I'm still considering a few alternatives as well. DDD - I believe you did spell Renimbi correctly. I won't have to alert anyone. |
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