Ask Terry Questions growth stocks for grandchild

growth stocks for grandchild

By Terry Savage on January 29, 2020 | College Savings / Student Loans

i want to give my newborn granddaughter a gift of $500 to put in a growth investment (stock)
Where the best place to get information about that subject or can you give me your stock pick

Terry Says

I have a much better idea for you — a gift that will grow tax-free for college. Go to to learn about 529 College Savings Plans.
And if you’re an Illinois resident, go to to open an Illinois 529 account. You’ll get a deduction on your state income taxes for up to $10,000 of contributions each year. And you can add to the account on birthdays or holiday gifts. Open the account in the name of the parent, for the child. If there are several children in the family, they can each use part of the account.

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