Posted on 02/22/2008 9:15:01 AM PST by the_devils_advocate_666
Oh he’s gorgeous! Congrats, Dad!! My ‘newborn’ is 8 months old - it goes by so fast. Before you know it he’ll be crawling, ‘talking’ and pulling himself up on things. I have no investment advice, sorry.
Mine was 7lbs 1oz, and now I get why 9lbs is "big"!!
An AR15 pattern rifle, several USGI magazines, and 1000rds 5.56x45 ammo.
I’m not a professional investment advisor but I do know that money put away that is tax deferred grows MUCH faster than money that is taxed. There are calculators on the net and the difference is incredible.
Look for a place to put the money that is tax deferred. You could put it in an IRA in your name and have him as the beneficiary. You could take it out and gift it to him later and you’d still be ahead of having everything taxed every year. Also, I dont think IRAs count when you ask for financial aid from colleges.
Good point - they do threaten taking the “profit” out of healthcare and putting it in the “lock box”.
Its a great company though and its super cheap right now.....
Good for you for thinking about your “big guys” future. My husband and I were able to send all 3 of our boys to college because of my husbands wise investments. He established trustee accounts and purchased individual equities. You can gift up to $10,000 per year.
My youngest was 9 lb 15 oz when he was born.....I feel your wife's pain....He now is 6’6” 220 lbs.....
Funny you mention the Chilton’s, his grandfather’s gift came with a note suggesting a savings account, college fund, or just a down payment on a car. I’ll investigate your book suggestions as reading to him will be quite frequent. I’m one of those anti-television wackos. If the wife would let me I’d throw out the one TV that we own.
Hah! Jeez I am slow! You Googled GE and Pfizer! LOL!
Silver bars...
Congratulations on your new family member! My Jr. mini-me just turned 2 so he doesnt want to be called a baby anymore.
The 529 was merely a suggestion. Believe me, I know what the plan is.
You will note that my first suggestion was a tried and true mutual fund.
good luck to the little one,
I am new father myself,
529 will save you some tax money, you can combine it with UPromise,
I would stay away from CD-s, they call them certificates of depression.
Set up a d.r.i.p. with Exxon, or Chevron, or McDonalds, or GE, etc..
https://www-us.computershare.com/Investor/MoreInfoForMemberLogin.asp?bhjs=1&fla=1
https://vault.melloninvestor.com/isd/Default.asp
Handsome, square-jawed. A real man, and probably a football star. Congratulations.
Look into a Coverdell ESA. Allows you to make non-deductible contributions into an account from which you deduct the funds later for education expenses, tax-free. Banks, brokerage firms, and mutual fund companies can assist you with opening this type of account. Someone else mentioned American Funds. A good choice, IMO.
BTW, Congratulations! A real cutie pie!
“An AR15 pattern rifle, several USGI magazines, and 1000rds 5.56x45 ammo.”
I think you left off some zeros. 1000 rds won’t last long.
Seriously, I have been buying ammo the last 6 months. If you think it is pricey now, it is going to get worse. A 50 cent round is going to be $2 or $3 in a few years. What I don’t use, I can resell or trade.
I assume you meant a college savings account?
Okay, so how do I know which one? There seem to be 4 here: http://www.virginia529.com/SavOptVCSPOverview.asp
And that he will have!
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