I have setup an account for my son, who is now 15 months old, right after he was born. I now have $2k in there and it is setup to automatically contribute another $50/month. I will probalby need to increase that, but I wanted to get something started. If I have another child (which we plan to)... it doubles.
1/2 of his money is in GE stock, 1/2 is currently cash. I can setup an automatic purchase system to buy into a suggested equity once per month at a fee of $5. however that's 10% of the $50 I'm putting in there! so it seems like a bad idea.
with 18-20 years till d-day, what are some recommended investment ideas for my son's college future? I am not using a 529 or other shelter because I liked the flexability of allowing him to use the cash for a business, house, etc if he doesn't go to college. however, at the same time I'm thinking about buying some of the college credits that you can get now and apply later (protecting you against inflation). Just some though, not a full 4 years, as in 18 years if he doesn't go to school I can get all that money back, but not with any interest!
1/2 of his money is in GE stock, 1/2 is currently cash. I can setup an automatic purchase system to buy into a suggested equity once per month at a fee of $5. however that's 10% of the $50 I'm putting in there! so it seems like a bad idea.
with 18-20 years till d-day, what are some recommended investment ideas for my son's college future? I am not using a 529 or other shelter because I liked the flexability of allowing him to use the cash for a business, house, etc if he doesn't go to college. however, at the same time I'm thinking about buying some of the college credits that you can get now and apply later (protecting you against inflation). Just some though, not a full 4 years, as in 18 years if he doesn't go to school I can get all that money back, but not with any interest!