Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

College Savings 529 VS regular savings account... piog

Posted by on Aug. 31, 2010 at 3:14 PM
  • 5 Replies

Does anyone have a 529 for their LO's???

I just got my enrollment forms in the mail for my sons and am still confused on if I should enroll them in this or just open a regular savings account for them. I want to start saving money for their college (they are 3) and don't like the fact that with the 529 I could lose money, so I was hoping to get advice from someone who has one. If you so, what do you like or dislike about it?

Thanks :)

I'm a strong, pro-choice, spanking when needed, put off today what can be done tomorrow, make a fool of myself to make my kids laugh, country music lovin', tattoo addicted, Brett Favre & NY Mets loving SAHM of 3 yr old twin boys. *The tattoo is the mark of the soul. It can act as a window through which we can see inside, or it can be a shield to protect us from those who cannot see past the surface*

by on Aug. 31, 2010 at 3:14 PM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-5):
JazzysWifey
by on Aug. 31, 2010 at 3:26 PM
What do you mean you could lose money?
Posted on CafeMom Mobile
Mommy2LnJ
by on Aug. 31, 2010 at 3:48 PM


Quoting JazzysWifey:

What do you mean you could lose money?

They are based on stocks and bonds and can go up or down and it says there is a risk of losing money, as well as your intial investment.

JazzysWifey
by on Aug. 31, 2010 at 4:01 PM
But can't you say that you want modest investments to be used for a smaller risk. A regular savings is not going to get the same return
Posted on CafeMom Mobile
Mommy2LnJ
by on Aug. 31, 2010 at 4:13 PM


Quoting JazzysWifey:

But can't you say that you want modest investments to be used for a smaller risk. A regular savings is not going to get the same return

Yeah, and it can change as they get older. I can do moderate, aggressive or conservative. I've just never dealt with anything like this so I'm somewhat confused

JazzysWifey
by on Aug. 31, 2010 at 4:16 PM
Yah just be cautious with your settings but I'd go with the 529
Posted on CafeMom Mobile
Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)