I'm considering opening an account for my children, putting a little away for their future education cost. I would like to put a lump sum at the beginning (~3K) and than in increments after that. I have looked at 529 program at my state (WA) and all we have is a prepaid program, no savings plan program. I understand there are other savings plan offered at other states that i can start an account with but i'm unsure as what is better: have a 529 program account in another state OR open an education IRA (Coverdell ESA) with an investment firm.

What would you suggest ? Thank you for your input and suggestion.

try to look into life insurance. I wouldn't put a penny in what Newface is saying. There are many way of structuring life insurance policies... and withdrawal are tax free, not tax deferred...

Sorry Newface... those are high risk/low reward products and they smell like scams...

You must be kidding me to give advice like this. no 401 k and IRA investment hehe... you must be very rich to go with this dumb advice lady and gentlemen.

Insurance companies are safe with no scam?? yeah.. go buy AIG, State Farm, Metlife HOLE life insurance with 20 years more payments and dig yourself with a grave by the time you try to collect it. Oh !! how about invest in Annuity? hehe.. or buy individual stock like bunch of losers here.

No wonder this place like a ghost town, no one border to look at it.

Would like to know what is the best use of your money beside roth IRA, traditional IRA and 529 so we here can learn

funny how there is always some clueless smart mouth running... rolmfao....

then this is just you dumb fuk idea not to go with Roth IRA / Traditional IRA / 529advice Please not to advice others.. OK, well...... let say you get layoff as of today, and your employer asking you to move the money out of 401K, what shoulda you do? hehe.. don't tell me you pull all money out to buy individual stocks because you dislike roll it over to IRA ...hehe.

Im not that good on the investment issues . but Im not too stupid to give dumb advices and post the negative thoughts BS around here. LOL .hehe. The only things worth to look at just for all the stickies, Sorry because i just tell it like it is to make you mad.

i have a problem sending pm is it my post count?

lot of half brain idiots put their money in IRA, 401k and 529... a few lucky one that find other vehicles that give them better returns... not mad, just see how stupid people really is when it come to their money..... just sad....

Show me what you got in your full belony brain then. You did not show any thing related better investment vehicle if you are that GOOD.Please give me an advice. hehe.

I'm interesting about what are your thoughts of " better investment vehicles " instead of talk down of 1/2 of US population are half brain idiots because they are just regular mom and pop and want somthing better when they are aging.
.hehe :p

Remember copy and paste did not prove you have knowledge of the subjects.

It is not too easy to advise you if we don't know who you are. What I mean is what field and title you are in, you and spouse, personalities, attitudes, ages, income, capital, debt, and how many children and their ages.
You and spouse have to break down the 401k, IRA, Roth IRA, and 529 investment definations offering by your employers or brokers since they are very. If you are in the 3some, and your field is incompeted, having strong title, good in control budget, but not in planning to manage your own business, then I would say you are seeking a right direction. However, you should have acknowledged all advantage and disadvantage involving in these investments.
For instance: In 401K, employer usually matchs up (give you free) to 3% of your paid check same as your distribution. This contribution is substract from your paid check before tax. These are sound good to you, aren't these? I DON'T THINK SO! Here is the black and white: They give you a few options to have you choose whether to put in their (picked) company stocks, bonds, or market fund. You should ask yourself who play with your money since you are not allowed to withdraw until your retirement age if you want to avoid an early penalty fees and tax? And you still have to pay its income tax when you withdraw even though your retirement age is met, plus inflation cost. Unless, you work for a big strong well management company which has few competitions. I have seen many companies (even cities and counties) washed their employees 401k, IRA, Roth IRA, and 529 to the big groups.
Thus, no one can answer your question better then you need to do your homework: If you are not good in planning to own a business, you should ask your employer or broker to give you the books for each investment. Read through all to understand its black and white images. Then come here to let us know the book which is the one you and your spouse are interested. So we can walk you through its good and bad definitions before you make any decision. Whoever tells you this and that is good or bad without reading/knowing your company investment book, that person is Madoff teacher.
Hope this help,
nang saigon

Bull & Bear,
I am sorry if that was too long and boring to read.


I WISH EVERY BROTHERS AND SISTERS IN HERE HAVE A WONDERFUL MERRY CHRISTMAS AND HAPPY NEW YEAR.

nang saigon

A whole life insurance policy can be Step 2 in your savings plan for the kids. Once you’ve determined a way to safely stash away some good returns on a lump sum plus increment style investment plan, you can also look into covering them through a whole life insurance policy which will have guaranteed death benefits and level term premiums for the rest of their lives. This way, you can gift the policy to your kids when they reach age 18, withdraw the accumulated amount if you deem it necessary, or borrow against it for any future expenses.

Of course, make sure that the company you purchase it from is well rated and won’t buckle anytime soon. Even if you’re inclined not to trust in ratings or financial performances these days, there are legitimate carriers that have offered and will always offer value-loaded plans for several years to come. You can shop around using free quotes from a reputed aggregator website like AccuQuote.com, or speak with a trusted advisor for more help.


Denise Mancini
Disclaimer: I work for AccuQuote and this is my personal opinion.

I would said life insurance , with INVESTMENT!

Why ?

I know one best product that give you

Growth (up to 13.25%)
Safety (guaranteed 1%)
Tax Advantage ( tax free , tax free w/d , tax free loan, tax free d/b)
Protection

That product is GIUL!!!

Let me know if you want to know more!!!

HI
529 for your children is a good start, your family members can also open 529 account for your children .life insurance( whole life) is also another vehicle for protection. if you were considered the whole life insurance( there are other forms of whole life) that you need to knows such as modified, grade premiun whole life). Have you check family income policy?
last suggestion, u need to consult estate planning if those above are not enough for u.
good luck.

bearrally, can you give us a bit more details. Some of us could use that knowledge you have

Wink,

GIUL, like another person posted.

another one

life settlement - look for longer term policies around 8-9 yrs life expectancy. This is where Buffet make the most money, all his other investments are worthless. All his money are made from here. One thing to remember is that there are a lot of scams around here. If you need a legit firm, pm me.

Regardless, please make sure we have
$10,000 to $100,000 in cash reserve...

Have a wonderful weekend