Investments for a Grandchild
Terry – We became grandparents for the 1st time a few weeks ago and would like to setup an investment accounts for him – Looking for suggestions – Life Insurance? 529? Mutual fund etc.
Thanks in advance,
Terry Says
Congratulations! You want to open a 529 College Savings Plan for your grandchild. Here is a link to a column I wrote a while ago –and the rules haven’t changed.
If you happen to be an Illinois resident, you’ll get a small tax deduction for your contribution. Go to their website — www.BrightStart.com.
If a resident of another state, just go to Vanguard.com and click on the link for 529 College Savings Plans.
