Investments for kids

Hi lakshmi,

Do look into 529 plans for your daughter. We have enrolled in Utah and California state 529 plans for our sons. Both are very good and they give good returns. No taxes on the investments ou make . Also check into the fees for each state plan. Look for plans that coem with the stamp of TIACREFF( i think). Let me get back to the US and i can look up my statements and give you more info. Way back when we started our 529 plans, CA and UT had some of the best plans that were offered. Now it could be different not sure.

Vandhana

Here is the link to the TIAA CREF website. Lot more info there:

TIAA-CREF - Education Savings

Vandhana

Hi vandana

Thanks for the link. will go thru it.

Thanks
Lakshmi

Hi Selvi,
Can you let me know what kind of investments we can look for kids education?

Thanks
Birundha

Originally Posted by sssaustin

Dear Lakshmi,
I sent you a PM.

I'm not sure if you received it for my I could not find it in my sent folder.

Pls let me know.

Hi Lakshmi,

You can also open an account in one of the brokerage firms and put 2000$ year as part of the kids educational IRA. You can manage them picking your own stocks. that’s what we do for both of our kids..

Tulasi

Hi Tulsi,
Educational IRA? Sounds interesting...Can you eloborate on this....If possible can you give some links?

Hi sssaustin,

Check out this link
Coverdell Education Savings Accounts

Tulasi

Hi Tulasi,

Thanks for the link.But it sounds similar to 529 plan.

Do you mind if asking abt the brokerage firms you have mentioned where one has a chance to pick our own stocks ?(The 401K plans have that choice I think...if I'm not wrong)

Hi ssautin,
There is lot of difference between the two in how to invest and how to use the invested money. Only drawback in ESA is if you wish to invest more than 2000$ you cannot do it...

Regarding brokerages there is lot of online as well as offices brokerages
We use Scottrade...I am listing some of them which I know off
Etrade
TDameritrade
Fidility
Citibank
Goldman Sachs
Morgan stanley
Merrill Lynch

I would suggest you do your own research and pick the one best suits you...

Tulasi

Thank you so much Tulasi ...I really appreciate.