Right now, I’m in college and I’m starting to think about how I will start saving for the future. I already have money in a conventional bank account. But what else should I do in order to prepare for the future. There are so many different types of investments (forex, stocks, bonds, ira, precious metals, etc). What is a relatively safe way for me to save money and invest it at the same time?
Posts Tagged ‘Save’
Is there anything besides a 529 plan to save for college?
31
Jan
The more I read, the more I dislike them.
Knowing that you know that you will not be in the same state in the future.
And knowing that children can get scholarships.
Or not go to school at all.
Or saving too much in the accounts and then paying penalties.
How can I save for a house, retirement, and child’s educations simultaneously with a low income?
12
Oct
I’m 29, with a 3 year old son. I’m a single mother. I am currently self-employed as an independent contractor. I made about 38292 last year. I started putting money away into my savings account to save for an IRA by the time I’m thirty. I am still researching on how to invest on my IRA (ETFs, Mutual Funds, etc). I want to buy a home. I also have about 4k saved for my son’s college education. I had done some reading about the tax braket that I’m in and it suggest that I depend on financial aid for him and not invest in the college plan 529, so I wanted to save some cash to help him pay any loans he may have after graduation. My real question is: how do I save for a home and try to max my ROTH IRA simultaneously? Any tips or ideas will be greatly appreciated. What kind of account can I put my home savings into that will accrue good interest. Thanks in Advance
What should we pay off or save for with 50K?
10
Oct
We are married.
I am a certified teacher, but I stay home to take care of our 5 month old daughter. Husband’s paychecks are around 3K every two weeks.
Our house (mortgage and taxes) come to about 2700 a month. We borrowed 20K against my husband’s 401K as down payment on the house…he is paying it back out of his paycheck. I have a new car payment of $360 with a payoff of 13K. My husband’s car is paid off.
We have no other debt.
We have 56K in savings and we are able to put $1,000 a month into savings and still live comfortably.
So, with 50K, should we pay off the car, pay back the 401K loan, or put it in a 529 plan for our daughter’s college?
Is our situation worth seeing a financial advisor over?
What is the best route to save for college if you have a VERY late start?
09
Oct
I am a current high school junior and have extremely limited savings. Due to my parents’ economic condition early in their marriage, they were not able to set aside much. The bottom line is that among two CD’s at 1.15%, a savings account at around 1%, and several E and EE bonds about 10 years old, we’re talking about $3,000 to my name. I currently hold a job that pays around $300 per month, all of which I put away into the savings account.
Now, my family is in a relatively stable financial condition, and I occasionally receive significant tuition support from my extended family who are VERY well-off.
At this point, should I open a 529? If not, what is the best route for me in this situation?
Are you planning to save college money for your baby?
19
Sep
I wanted to know how and when others start saving for their child’s college money like investments cds etc. I was planning on opening a savings account and saving $3000 a year but it’ll hav eno tax benefit ! help!
What is the best way to save money for kids? *Special situation, please help*?
06
Sep
I’ll try to keep this as short as possible-
Background:
My fiance and I will be getting married in one month. We are both divorcees, and I do not have kids. She has 3. They are wonderful kids, I am ready to care for them, but here is the situation. They only see their father every other weekend, and he and his family have not been very cooperative. He frequently quits jobs or gets fired and fails to catch up on his child support payments, which are very low to begin with. My fiance and I earn average wages, so this presents an issue. He has finally been diagnosed with a mental illness and she is starting to receive social security payments for all three kids.
Question:
What is the best way to save this money for the kids, without hurting ourselves, and if possible without hurting them? What I mean is that if we were to put this money in accounts for them, it would likely hurt them when they apply for student aid years later. At the same time, I don’t want to screw ourselves and get taxed more. Should we just keep this money as cash? Invest it in a 529 college savings plan? Again, my first concern is to not screw ourselves. Thanks for any advice!
Samantha – I am currently financing my own education as well; I work full time and go to school part time.
Mike – Thanks…that is good advice.
Everybody else: While I do want to help the kids, my main interest is how do we (my fiance and I get married next month) not get penalized. She does not receive alimony. She receives child support and some social security money due to his disability, which causes him to be unreliable with holding jobs and providing support.
Save for our kids’ college tuition, or pay off our own student loans?
23
Aug
we have another 20 years to pay off our student loans, which add up to about $40,000 at 2-4% interest, with minimum payments around $200/mo. Our children are 1 and 2 years old. Should we or shouldn’t we start a 529 and save for their college tuitions? I would hate to see them lose out on a savings because we (and our parents) didn’t save for our own. Thanks.
Why can’t libs see the only way to save the middle class is to destroy medicare, SS, unions, public education?
12
Aug
….minimum wage, planned parenthood, welfare programs, NPR, etc. etc.?