First grandchild born today!

Dash man

Dash man

Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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My grandson was born today. Six lbs 14 oz. and 19.5 inches. Mom and child are healthy after an emergency C-section, thank God. Son is relieved, proud, exhausted and in awe of a new life and his new responsibilities. It was a good day! Tomorrow I'll research 529 plans to set up his college fund. Next week we'll fly out to meet the little guy. I feel very blessed!
 
Congrats on your new elevated status in life! Don't know where along the line you are but I got promoted from geezer to Grandpa..........best promotion I ever got. Enjoy but remember the best is yet to come.....when they recognize you at the door, give you a big smile and flap their arms, etc.
 
Thanks!! I'm looking forward to those hugs! Budget is not a worry fortunately. Exciting times!
 
Congrats! Big milestone that'll bring a new dimension to your happiness. You get to play with kids, and send them home when you're done!
 
Congratulations! Spoiling the grandchildren is such fun. So is turning to your own children when their children are acting up and saying "you were just like that". It brings so much joy to life :)
 
Any suggestions on the best 529 college savings plans? I'm going to start with $20k as soon as the let me know his SSN.
 
We're Pennsylvania residents. Our grandson lives in Washington State. We plan to eventually become Florida residents where we spend winters. So for now we'd get the tax benefit from PA.
 
529

You may want to bring the kids in on the college planning. An article I read recently mentioned that grandparent held 529's can negatively affect the child's eligibility for other financial aid. However, I guess if budget is not a problem, you may intend on paying for college without financial aid, which is great, leave it for those that need it.

Congratulations! I am about 3 months behind you in grandpa status, can't wait, 'cept DD and family live 1/2 way across the US
 
Financial aid won't be needed. It'll come from us dead or alive. Of. Course, that's intended for a public university. If they want some expensive private school they're on their own.
 
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Congrats !! I sense a relocation is in your near future !! My 2 grandchildren live 2 miles up the road !! Just got off the phone with my 4 yr old grandson. I try daily to be half the man he thinks I am !!
 
Newventurer said:
You may want to bring the kids in on the college planning. An article I read recently mentioned that grandparent held 529's can negatively affect the child's eligibility for other financial aid. .........................................
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Traditional advice has been to save the G-parent 529 for the last yr so that it won't interfere w/ financial aid. Grandparents Faqs on 529s - College Savings for Grandchildren

If the G-parent 529 is larger, perhaps it may exceed any financial aid that would have been given?
 
Dash man said:
My grandson was born today. Six lbs 14 oz. and 19.5 inches. Mom and child are healthy after an emergency C-section, thank God. Son is relieved, proud, exhausted and in awe of a new life and his new responsibilities. It was a good day! Tomorrow I'll research 529 plans to set up his college fund. Next week we'll fly out to meet the little guy. I feel very blessed!
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My first grandchild was born ten days ago. What a life-changing event. almost the same size as yours--6 lbs. 15 oz. and 20". I can't wait for that first hug.:D
 
Dash man said:
Any suggestions on the best 529 college savings plans? I'm going to start with $20k as soon as the let me know his SSN.
Click to expand...

Unless you don't mind filing the 709 gift form, consider having spouse sign check for half the amount so you each don't exceed the 14K limit/annually. (not sure of the effect on state subsidy if contribution is from 2 folks going to same 529)
You can also front load the funding if you file the 709
Grandparents Faqs on 529s - College Savings for Grandchildren
 
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Congratulations. Grandkids are the best.

As the saying goes, Grandchildren are G_d's reward for not killing our kids when they were teenagers. :)
 
Congratulations! Grandkids are the best!
 
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