Grandparent gift
Gift to greatgrandchildren $1,000 in Monetta Core Growth – Fund 1 about 7 yrs. ago. More “grands”. Saw Stockpile.com in one of your columns. Any advice? From 87yr. old “great”
Terry Says
Dear Grand — create a 529 college savings plan. Do not put money in their names in a stock account, because it will weigh very heavily against them when it comes to financial aid for college. Go to www.SavingforCollege.com to learn about this —
Or read my new edition of The Savage Truth on Money, available at my website before making this investment. There is an entire chapter explaining 529 college savings plans, which grow money tax-free for college. No rush. I’d wait a few months before starting this investment plan for your grandchildren.
