Ask Terry Questions Beginning Investment Account for niece & nephew (ages new born and 3 yr. old)

Beginning Investment Account for niece & nephew (ages new born and 3 yr. old)

By Terry Savage on August 17, 2021 | College Savings / Student Loans

Where do you advise best placement of funds investment for young children?
Is there a company or resource to get me started?
Thanks.

Terry Says

The best way to put aside money for young children is to use a 529 College Savings Plan. All the money grows tax free for college, and it has little impact on financial aid down the road.
Here’s a link to one of my articles on the subject.
If you live in a state (like Illinois) that gives you a small tax break on your contribution, open an accout there (www.BrightStart.com in Illinois) or go to Fidelity or Vanguard to open the account.

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