cute fuzzy bunny
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Re: Congratulations, th.
In other words, our financial stability and success are virtually insured.
Normally that last bit would scare the pants off of me, but we're talking about a gal that found a wedding dress for $20 and told me she just wanted to go get married at the county clerks office and didnt want a big fiasco wedding.
My initial read was ibonds can be bought and held in the parents name, all the interest is deferred, and if they're used for education the distribution is tax free. I was thinking of waiting a little bit to see if I can get better than 1% on them. Its nice that I dont have to decide whether to use them or not on the kids education until I need to. I'm also considering other options like a traditional fund or specific education investment vehicles. Just havent had the time or inclination to read them though.
Noooooo! She makes enough to pay all the bills, fully fund a 403b, a roth, and has full group insurance coverage that just got extended to cover me as well! I confirmed a full and long lasting ER, and when she gets tired of working she'll have her pension, a fairly substantial 403b, and we'll have a good sized Roth to go with my portfolio, my IRA, and perhaps even social security!Geez, a spouse & a kid in the same year. You really know how to screw up a "good" ER.
In other words, our financial stability and success are virtually insured.
We had that conversation already. It was a short one. Five minutes into it she said "ok, my head hurts. You take care of all the money and just give me a credit card".The IRS has specific rqmts on ownership of bonds for tax-free educational purposes. IIRC you have to own the bonds in your name and your kid's name can't be on them except as an inheritor/beneficiary. No doubt you & spouse can enjoy debating this during your first married/honeymoon conversation about money management..
Normally that last bit would scare the pants off of me, but we're talking about a gal that found a wedding dress for $20 and told me she just wanted to go get married at the county clerks office and didnt want a big fiasco wedding.
My initial read was ibonds can be bought and held in the parents name, all the interest is deferred, and if they're used for education the distribution is tax free. I was thinking of waiting a little bit to see if I can get better than 1% on them. Its nice that I dont have to decide whether to use them or not on the kids education until I need to. I'm also considering other options like a traditional fund or specific education investment vehicles. Just havent had the time or inclination to read them though.