Home | Contact Us | Community | News | Resources | Entertainment | Shop | Parenting BlogsPlease visit our sponsors:
Parenting, Pregnancy & Baby Message Boards
Would you like to support Parenting Club? Click here for donation information  
Google
Share |

 
Reply to this topicStart new topicStart Poll

> Your savings plan?, Have you been saving for their future?
jigsaw71
Posted: Mar 14 2008, 06:23 AM
Quote Post


Newbie
*

Group: Members
Posts: 8
Member No.: 19,910
Joined: 7-February 08



Hello All,

I am wondering what many of you are doing in regards to saving or teaching the kids to SAVE for their future?

I notice everyone around hasn't even thought about that. I have 2 yr. old and 4 month old. But this is on my mind already!!


--------------------
PROUD FATHER of 2. Sarah and Isaiah..
PROUD HUSBAND of 1
PMEmail Poster
Top
Hillbilly Housewife
Posted: Mar 14 2008, 06:42 AM
Quote Post


Ruby Member
*********

Group: Moderators
Posts: 13,589
Member No.: 89
Joined: 5-April 03



our kids each have an RESP account... and they each have a small bank account, in trust to me.


--------------------
The richest people don't have the best of everything, they make the best of everything.


user posted image


The Administrators of the Parenting Club take violators of the Terms of Service Agreement seriously. Please report any suspicions to the Moderators! Report a post using the "report" button in the upper right corner of the offending post.
PMEmail Poster
Top
lisar
Posted: Mar 14 2008, 06:52 AM
Quote Post


Yes it is I....
*********

Group: Members
Posts: 11,727
Member No.: 1,760
Joined: 20-April 05



I have a 2 yr old and a 7 yr old. They both have savings accounts that we put money into. For us we have 401k for us going.
PMEmail Poster
Top

coasterqueen
Posted: Mar 14 2008, 06:57 AM
Quote Post


Diamond Member
**********

Group: Members
Posts: 27,917
Member No.: 236
Joined: 4-August 03



I have a 5.5 year old and one who will be 3 on Sunday. They both have savings accounts, college savings plans, and their own piggy banks in their room smile.gif Kylie also gets an allowance of $10 a week where $3 of it has to go in her piggy bank, she has to use some of that each week for church, and then the rest is hers.


--------------------
~*Karen*~
wife to hubby, Ryan Douglas
mommy to Kylie (9) and Megan (6.5)
and furbabies Gavin, Buster, Sox, and Hailey

PMEmail Poster
Top
amynicole21
Posted: Mar 14 2008, 07:22 AM
Quote Post


Mmmm. Ice cream!
*********

Group: Moderators
Posts: 11,773
Member No.: 69
Joined: 31-March 03



We were going to do a 529, but we don't think we'll be in FL that long and don't want to limit them to staying in FL state universities. I think they have nation-wide 529s, but we never looked into them that much. I don't think you can use these for private universities anyway. We contribute to a Sharebuilder account for both of the girls (5 & 2) monthly - it's like a 401k.


--------------------
user posted image

The Administrators of the Parenting Club take violators of the Terms of Service Agreement seriously. Please report any suspicions to the Moderators. Report a violation using the "report" button in the upper right corner of the offending post.
PMEmail PosterUsers WebsiteYahoo
Top
Kaitlin'smom
Posted: Mar 14 2008, 07:26 AM
Quote Post


Graceland
**********

Group: Moderators
Posts: 23,956
Member No.: 32
Joined: 5-March 03



Kaitlin has a college fund account, a savings account and a money jar at home.

for us we have savings, annuity and I am not sure what the other ones called, it with DH's work but its ours.


--------------------
Di ~ mommy to Kaitlin wife to David
PMEmail Poster
Top
msoulz
Posted: Mar 14 2008, 10:08 AM
Quote Post


Gold Member
*******

Group: Members
Posts: 3,102
Member No.: 2,158
Joined: 7-July 05




We are socking as much as we comfortably can away into 401(k) accounts and have 10 years left on a 15 year mortgage in the hopes that we can help them out of our current incomes at college time (or tap into the retirement if necessary). Both kids have savings accounts for the little stuff that comes from relatives at holiday and birthday time, and I direct deposit $5 each week into each of their accounts. Jake already calls that his college savings account. smile.gif Plus he has a small CD that we bought when his savings got bigger. So its a little here and there.


--------------------
Mary :)
a.k.a. Jake & Erin's mom

Daisypath Happy Birthday tickers

Lilypie Kids Birthday tickers
PM
Top
moped
Posted: Mar 14 2008, 10:20 AM
Quote Post


Ruby Member
*********

Group: Members
Posts: 13,078
Member No.: 1,035
Joined: 5-December 04



Oh yes we have been saving since I was pg with them..........resp, gic etc


--------------------
user posted image
PMEmail Poster
Top
lovemy2
Posted: Mar 14 2008, 05:32 PM
Quote Post


Gold Member
*******

Group: Validating
Posts: 4,686
Member No.: 8,607
Joined: 9-February 07



529s, savings accounts and money put away from their Grandpa who unfortunately they never met sleep.gif


--------------------
Lilypie 6th to 18th Ticker

Lilypie 2nd Birthday Ticker
PMEmail Poster
Top
Twelve Volt Man
Posted: Mar 17 2008, 07:42 PM
Quote Post


Lover of steak and beer
******

Group: Members
Posts: 815
Member No.: 7,955
Joined: 17-January 07



We opened a savings account when my wife was pregnant. We put extra money in there for his college, as well as all money given to him. We dump as much as possible into our 401k's so, that we'll be in a better position to help him when we're retired. By the time he goes to college, our house will be paid for, freeing us to afford to help even more. I feel like we've got college under control... it's graduate school that scares me!


--------------------
PMEmail PosterAOL
Top
kimberley
Posted: Mar 17 2008, 07:48 PM
Quote Post


Diamond Member
**********

Group: Moderators
Posts: 18,627
Member No.: 249
Joined: 28-August 03



all 4 of my kids have RESPs and my eldest just opened his own bank account last week. we agreed to put at least half of all he gets in there and continue once he is working. to me, teaching my kids to be responsible with money is as important as giving them money.


--------------------
user posted image mama to Jacob, James, Jade, Kaleigh and Riley!!
user posted imageuser posted imageuser posted image

user posted imageuser posted image

The Administrators of Parenting Club take violators of the Terms of Service Agreement seriously. Please report any suspicions to the Moderators. Report a post using the "report" button in the upper right corner of the offending post.
PMEmail Poster
Top
redchief
Posted: Mar 17 2008, 07:51 PM
Quote Post


Platinum Member
********

Group: Moderators
Posts: 8,629
Member No.: 800
Joined: 5-October 04



By all means, if you have the means, save for your kids' college! Unfortunately we spent most our child rearing years living paycheck to paycheck, so there was little left over to sock away for a rainy day. I'm paying for it in loans now!


--------------------

Ed is husband to Lisa (since 1983)
Dad to Ricky, John, Erin and Kaitlin

The Administrators of the Parenting Club take trolls and violators of the Terms of Service Agreement seriously. Please report any suspicions to the Moderators. Report a post using the "report" button in the upper right corner of the offending post.
PMEmail PosterAOLYahooMSN
Top
DVFlyer
Posted: Mar 18 2008, 08:13 AM
Quote Post


Just a man
*******

Group: Members
Posts: 2,733
Member No.: 1,368
Joined: 10-February 05



We were going to use the 529 plans but I didn't want to limit their spending on just education, so every year, we put the money we get back in taxes for having kids into a Roth for Michelle with the idea that it will be the kids' money.



--------------------
Convincing the world that the only way to solve the ongoing issues while raising children is PERSISTENCE. You have to keep trying things and not give up........ they eventually go away on their own. ;-)
PMEmail Poster
Top
GorillaLove
Posted: Apr 14 2008, 10:40 PM
Quote Post


Newbie
*

Group: Members
Posts: 6
Member No.: 20,013
Joined: 26-February 08



I'm setting up an education IRA. I just started a new career so the money I put in will increase over time. I'm planning on $50 bucks a month with $500 at tax time to start things of.


--------------------
"Some people ask the secret of our long marriage. We take time to go to a restaurant two times a week. A little candlelight dinner, soft music and dancing. She goes Tuesdays, I go Fridays." Henny Youngman
PMEmail Poster
Top

Hopwood04
Posted: Jun 19 2013, 07:36 AM
Quote Post


New Member
**

Group: Members
Posts: 24
Member No.: 24,261
Joined: 18-June 13



I put $50 per month in for both of my kids into a life insurance plan. Specifically an indexed UL. The cash value of the contract increases each year with the stock market. When the stock market loses, I don't. Then if the market re-earns those losses, I get to participate in those gains too. The contract has a reset feature that resets your basis on annually on your anniversary. So if the market earned 10%, I get 100% of that. If the market earns 20%, I get to keep 13.5% because that is the annual cap. Here is the neat part, if the market loses 10%, I get credited with 0%. When my kids get ready to retire, they should have a nice little nest egg there and the best part is, they will be able to take a TAX-FREE Income off of it!

Not only do my kids have a great plan set up for them, they also earn Tuition Reward Points. What are Tuition Reward Points? Tuition Rewards® is a unique customer Reward program! You can earn Tuition Reward Points (similar to “frequent flyer miles”) and use them to reduce tuition obligations at 300+ participating four-year private colleges & universities in 45 states. The Tuition Reward program was created by SAGE Scholars, a Philadelphia firm founded in 1995 by the former director of admissions & financial aid at the Wharton Graduate School, University of Pennsylvania. One Tuition Reward Point equals one dollar ($1.00) in
discounts off the “list price” of tuition at participating schools for undergraduate study beginning with the freshman year. For the freshman class entering college in August, 2012, the maximum possible reward per student is $44,075 in discounts, spread evenly over four years of projected attendance. As with Frequent
Flyer miles, Tuition Reward Points are not redeemable in cash.

How do I earn Tuition Reward Points?

Purchasing a life insurance policy through an associate of the Retirement Planning Store is one way that Tuition Reward Points are earned. You receive 500 points just for meeting with your Retirement Planning Store, Inc. associate and completing a Sponsor form. If the program seems to be a fit for you and your family, you need to complete and submit a life insurance application and fulfill all underwriting requirements. Once your policy is placed in force, you immediately receive an additional 5000 Tuition Reward points. You will continue to receive 2,000 points each year as long as your policy remains in force. (This can be achieved for as little as $60 per year for a $15,000 death benefit) Email me for a list of colleges.

Please do not judge this post as spam because it is not. I am sorry that the thread was right up my alley. I truly joined this group to ad value and be an active participant.


--------------------
Term Life Insurance Quote
No Contact Information Needed!
[URL=www.retirementplanningstore.com/instantquote.html]My Webpage[/URL]
PMEmail PosterUsers Website
Top
Cody Taylor
Posted: Feb 16 2014, 10:31 PM
Quote Post


New Member
**

Group: Members
Posts: 17
Member No.: 24,693
Joined: 24-January 14



Well i too believe that making the kids responsible towards handling few things right from the beginning can be a good habit. That is why opening a saving bank account or giving them piggy bank account can be a good idea. But do ensure that saving habits is promoted by you
PMEmail Poster
Top

0 User(s) are reading this topic (0 Guests and 0 Anonymous Users)
0 Members:

Topic Options Reply to this topicStart new topicStart Poll

 





[ Script Execution time: 0.0130 ]   [ 12 queries used ]   [ GZIP Enabled ]