best way to save/invest money for the wee one
01-20-2009, 12:43 PM
#11
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Join Date: Apr 2004
Posts: 0
Re: best way to save/invest money for the wee one
Mutual funds suck right now, that's why they are good to buy! In 15 years, you will be able to send your family to school. Look into the cgm focus fund. My wife has made a ton of money with them.
01-20-2009, 11:57 PM
#13
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Join Date: Jun 2007
Posts: 0
Re: best way to save/invest money for the wee one
get a Variable Annuity with Living Benefits and Income Benefits.
set up a trust account or do an UGMA. once she reaches 18 the annuity will have matured so there will be no penalty to take the money, exercise the Income/Living Benefits.
the good to a variable annuity is the fact that you can participate in the market (aka Sub Accounts, that are basically a mutual fund). you can reap the rewards of an "up" market and have gauranteed values for "payout" (read: payment plan).
the bad is the fact that you will need to stick with that company you buy it from because if you change your mind after the "free look" period you WILL pay high fee's to terminate your contract.
talk to a financial advisor in your area.
set up a trust account or do an UGMA. once she reaches 18 the annuity will have matured so there will be no penalty to take the money, exercise the Income/Living Benefits.
the good to a variable annuity is the fact that you can participate in the market (aka Sub Accounts, that are basically a mutual fund). you can reap the rewards of an "up" market and have gauranteed values for "payout" (read: payment plan).
the bad is the fact that you will need to stick with that company you buy it from because if you change your mind after the "free look" period you WILL pay high fee's to terminate your contract.
talk to a financial advisor in your area.
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