Savings Funds for Grandchildren

Author: Lynn
Posted: Mon Nov 29, 2004 11:24 pm
Post subject: CD for Grandchild


I want to start some kind of savings plan for my 6 year old grandchild. Would a CD be a good option?
I've also thought about the Stock Market. Any suggestions will be appreciated. Lynn

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NightStar
Posted: Tue Nov 30, 2004 9:40 am
Post subject: Savings Funds for Grandchildren


This is not my area of specialty, but I found these links sometime back that may be of use to you.

Quote:
Certificates of Deposit: Tips for Savers

http://www.fdic.gov/deposit/deposits/certificate/index.html


Quote:
Making Sense of Savings*
http://www.obre.state.il.us/CONSUMER/Tips/SAVINGS.HTM


Quote:
ABCs of Figuring Interest*
http://www.obre.state.il.us/CONSUMER/Tips/ABC-INT.HTM

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Board Monitor
Board Monitor/ Administrator
Posted: Tue Nov 30, 2004 10:17 am
Post subject: Savings Funds for Grandchildren


Lynn,

All depends on your risk tolerance. Whatever you choose, putting the funds in a 529 account would be a great option.

By the way, I need a grandmother like you!
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314