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Tractor Talk Discussion Forum

OT Need Your Wisdom

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KCtractors

07-19-2005 11:19:28




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We just become Grandparents to a little girl, mind you,we are not rich by no means, but we would like to start a college fund or whatever for her. We could invest a $1000. Any suggestions as how to to invest it in. I don"t think a saving account would make her any money by the time she would be 18 years old. Thanks for any help. It sure would appreciated.




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Russ(NC)

07-20-2005 11:28:13




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 Re: OT Need Your Wisdom in reply to KCtractors, 07-19-2005 11:19:28  
For my daughter, I placed $3,000 in H.J. Heinz Company comon stock when she was born. I reinvested the dividens and she had more than enough to attend University of North Catolina at Chapel Hill. She got her undergraduate degree and it"s all paid for. Now she wants to go to graduate school (but that"s a different story).

Recommend putting it into the stock market into a stock that pays a dividen and reinvest it. Get a stock that has a long history of paying the dividen, such as H.J. Heinz.

Russ

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Arthur

07-20-2005 08:43:28




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 Re: OT Need Your Wisdom in reply to KCtractors, 07-19-2005 11:19:28  
Mutual fund companys have college funds...I would recomend Vanguard...(no load)Good luck, and hope the little one is a genius....



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Doyle Alley

07-20-2005 07:09:04




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 Re: OT Need Your Wisdom in reply to KCtractors, 07-19-2005 11:19:28  
Look to see if your state has a pre-paid college plan. Most states do. You lock in all the future tuition at today's rate. If you start paying on it while she is young, the monthly cost is very small.



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RusselAZ

07-19-2005 18:55:57




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 Re: OT Need Your Wisdom in reply to KCtractors, 07-19-2005 11:19:28  
Use an insurance company annuity. JUst call up your favorite insurance agent.



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Jay (ND)

07-19-2005 12:57:55




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 Re: OT Need Your Wisdom in reply to KCtractors, 07-19-2005 11:19:28  
Get an Education IRA. Deductible to you. Transferable to other family members in case she would decide not to attend college.



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