Terry’s Favorite Websites
Lets you start investing with only a few dollars, and has special information packages for children to teach them about the stock market.
Every state has one or more “529” College Savings plans – either pre-paid tuition plans or investment plans that allow you to withdraw all gains tax-free if used for college expenses. Learn about them at this website, and also use their “search and compare” feature to see your state plan’s performance and features- since you do not have to use your own state’s plan.
Start early to teach your children about wise use of credit cards. This site links you to banks that offer a re-loadable debit card – perfect for the student going off to college. Mom and Dad can re-load a monthly allowance directly from their bank. And both student and parents can securely view all spending and cash withdrawals from the account, using a PIN. No more midnight pleas for money without knowing where it all went!
Since you can invest in any state’s plan, and use the money for college in any state, why not choose among the top rated plans for both fees and performance? Even if you get a tax credit for investing in your state’s plan, that benefit might be outweighed by high costs and poor performance!