doathlon - 1/5/2025 11:08
mafrif - 1/5/2025 11:41
I'm planning on doing it a little different.
Not going to give them a thing, they know that now and told them the easiest money is getting good grades and scholarships. They can borrow money and hopefully they have to repay it, will incentivize them to not waste money and work some during college. They are getting to the age now they can work on the farm and save up.
The money I would put into a college fund I am reinvesting in myself, I can make more return then a savings acct. I would rather help them out to buy a first home or maybe repay some of there loans after the fact if they have been successful getting through college.
Yet your going to give them money to buy a house? Such a farmer type post. "I earned everything I ever got" except for the land my wife has or the farm grandpa bought me or the 1\4 dad gave me the down payment for. Not to be a jerk but it cracks me up. Help your kids anyway you can and don't apologize. I set up 529 plans for my kids and didn't tell them about them until their senior year. So far I have two with good enough grades they received scholarships so they don't pay tuition anyway. Both will be able to use that money to start a business, go to grad school or buy a house. The 529 is a great tax vehicle and serves any kid wether they go to college or not. Its one of the few things the government got right. I just wish it wasn't only state income tax deductible and was federal as well.
New Dad: Tax Savings and College Investing Ideas
