SavingS for grandchild
I have a new grandson and I want to open up an account for him. I want an account that is easy accessible to deposit in any amount from$25 to$1000 a month safe with a decent rate (if there is such a thing). I want him in the future not to struggle be it education, transportation, housing etc. Thanks in advanced for your help. I value your opinion and recommendations.
Terry Says
The best and really ONLY gift that fills this bill is a 529 College Savings Account. You need only a small amount of money to start it, and you can add to it any time. The money grows tax-free for college in any state. Here is an article I wrote that explains it all. Here is an article I wrote explaining how a 529 plan works!
