Gifting to five great-grandkids of what?
My wife and I are blessed and lucky to have four great-grandchildren under four years old. One more due April.
Looking at $1,000 bonds to each now, but will appreciate any advice. Thank you very much
Terry Says
First, congratulations on having — soon — FIVE great grandchildren! What a blessing.
You could give Series I bonds, where rates adjust to reflect inflation. Read this.
Or you could ask their parents if they have opened a 529 college savings plan for each child. They should!!
Here’s an article that explains how they work.
They can go to www.SavingforCollege.com to find their state’s plan — BUT if it isn’t highly rated, they can just go to Vanguard to open a plan — since you can use any state’s plan and use the money for college in any state.
Incent them: Tell them if they open a plan for each great-grandchild, with their own money, then you will immediately and directly add $1,000 to each child’s plan (and maybe contribute small amounts more on birthdays!).
