West Central MN (between MMF and Larson's) | If you want to get started simple.
Etrade bank and Sofi both have savings accounts at 4.1-4.2% currently. Sure beats 0.2% at some of the local banks.
We never did the 529 and were probably too late now. Below 15k a year is tax free I believe so can pay kids to that level.
One of the local accountants was advocating basically using a Roth for kids and then pull out for college if needed, that way if they pursue a trade the money could be used for something else or kept in the Roth.
I’m not an expert, just pondering as we have one that just finished tech school, one in college and a HS Junior.
Planning to start a couple savings accounts at etrade for them to get them better rates of return than they are currently getting
Edited by purplepride0 1/4/2025 22:05
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New Dad: Tax Savings and College Investing Ideas
