Thursday, August 19, 2010

Just 17 and Half More Years to Save for College...

Since Paige was born, I've been trying to figure out a good way to start saving for her college education. But then life happens and those plans go on the back burner. Who can think about putting moolah in an account for "down the road" when we need to buy diapers, pay medical bills, etc right now? But I'm determined to get something set up by her first birthday/Christmas so we can ask relatives to put money there instead of towards too many toys. Good plan, huh? Well... that gives me 4 more months to get my act together on this. But when there are so many options, I just can't wrap my head around which one is best. My mother-in-law gave me a great article written by Carmen Wong Ulrich which outlines the top for ways to save for college.. I found it online and here is the link: PARADE - 4 Smart Ways to Save for College

I think I'm leaning towards a 529 Plan.. but then I have to choose which one! The Parade article reccomends this site to compare 529 Plans:

Have any mamas out there figured out what they are doing yet? I know I'm already behind the eight ball on this one, so any advice would be greatly appreciated!

And since this subject is kinda stressful, I decided to lift your spirits with a picture I took this morning...

When Muffin Tops Are Still Cute


  1. Hi Erica - My dad is a financial planner and college planning is one of things he specializes in. If you have questions and want advice, I can put you in touch with him.


  2. HA! I was about to tell you that my sister is a financial planner and also specializes in college planning. I am sure you could talk to her.

    I know when our baby is born later this year, we are setting up a 529 with her in January and just doing a small amount each month toward it. Then, like you, we are going to ask relatives to give toward it so he doesn't have too many toys.

    Sounds like you have lots of people to talk to.

  3. T. Rowe Price's "UA College Savings Plan" (Alaska) plan and USAA's Nevada plan are both excellent and appear consistently high in rankings for one-, three, and five-year performance. Remember, you can use accumulated 529 plan proceeds regardless of the state you reside in.

  4. I am also interested an educational plan for my child as early. I've got to check out the site.

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