Should I invest money for my child in a bank account or savings bonds?
March 13, 2009 by How Savings Bonds Work
Filed under More Bonds Answers
Can you answer Amy C’s question about Bonds?:
I would like to invest $2000 per year to save for my child’s future. I thought about a college savings account, but what if he doesn’t go to college? Maybe a bank account or savings bonds? What would be the best decision?
Us Treasury Savings Bonds
I would like to invest $2000 per year to save for my child’s future. I thought about a college savings account, but what if he doesn’t go to college? Maybe a bank account or savings bonds? What would be the best decision?
Us Treasury Savings Bonds
Bonds Feedback: See if there’s anyone at your bank who can talk to you about your investment options. That would be a good starting point for gathering information to make your decision. Also, the bank would know if there are any state-specific products that would work for you.
Good luck.
Bonds Feedback: Savings bonds are very safe. However, I instead would consider putting that money into high yield 1 year CDs and continually invest that money. I know banks are scary places right now, but the FDIC will ensure that money for up to 100000 dollars. However, talk to a financial adviser as well because if your child goes to college, that money will be computed as what can be contributed to their education, lowering how much financial aid that child can get. Maybe put that CD into your parents name and help your parents pay off the taxes that it would accumulate. If your child decides not to go to college, then that money could be theirs.
Good luck in your decisions.
“well, we all know theirs huge benefits to register a company in Cyprus, lol. My account pointed me to a few blogs on the net which i’m rather reluctant to check out as i’ve been so busy lately”