Which is the best way to invest money or put away money for a college fund for kids?

91/2 Year old and need to start investing for future college expenses, what type of accounts are best for this?

If you are saving for college expenses, you should take advantage of federal tax breaks aimed at families saving and paying for college. These include the following:

Qualified Tuition Programs (529 plans)鈥擡arnings grow tax-deferred and distributions are tax-free when used for qualified post-secondary education costs.

Coverdell Education Savings Accounts鈥?Earnings grow tax-deferred and distributions are tax-free when used for qualified post-secondary education costs. May also be withdrawn tax-free for primary and secondary school expenses.

However, don't invest more in these than you chlld will need for college. There are tax penalties for non-educational withdrawals. Additional funds should be invested in a UGMA or UTMA.

For more information read this link, where most of this information comes from:

http://www.savingforcollege.com/

check daveramsey.com he has all the answers

That would be any type of deposit or investment account that permits you to deduct the amounts you put in from your income tax.

Look into a 529 plan.

Tags

　　Investment Advice 　　Investment Account 　　Invest Money 　　Invest in Gold 　　Invest Fund 　　Income Fund 　　HYIP 　　High Yield

Related information

Should I invest in the S&P 500 or a mutual fund?

in your case maybe the 500. a mutual fund is only as good as the broker team managing it that being said, us bank has done ok for us over the years, especially in the early 90's when they ...

If I invest 1 lakh for long term investment in mutual fund like 5 years?

Mutual funds do not mature as such. Normally, you can take your money out any time. They do however go up and down. They generally do pay dividends which you can choose to take in cash or reinve...

Should I invest in a money market account or a mutual fund?

money market fund will be safest - odds are good you wont lose any money. Mutual fund you can lose money - not good if you are going to need it in 12 months. Money markets pay a bit more than a...

I want to invest 5000 Rs/. per month thr SIP in Good Mutual Fund for a Three year ,Which is Better.?

Icici offers more schmes... Icici lambard is one of the best. Call customer care for details. U will get more profits...

...

What is the minimum amount I can invest if I want to get into a mutual fund?

If you want to invest for retirement, you can open an IRA with ...

In my State there are only two Mutual Fund Unit SBI and UTI I plan to Invest with these two?

BOTH THESE MUTUAL FUNDS ARE NOT THE TOP PERFORMERS ANY MORE. YOU CAN VIEW THE TOP PERFORMING MUTUAL FUNDS, WHICH WILL CHANGE FROM TIME TO TIME AT : www.valueresearchonline.com NOWADAYS YOU CAN...

For a newcomer of this trade which will be the more sound for invest? i.e Share Trading or buying Mutual Fund?

If you are new to market then i would suggest you to go for Mutual fund. Concept of mutual funds is simple: You invest the money in mutual fund company, they will invest your money in some other b...

Names of books with infomation about mutual fund investing?

Skip books, they can become outdated fast . . . I suggest yahoo's finance section with the investing education and mutual fund info , Scroll 1/2 the way down and...