TTMA: 529's

[dmoney]

We set one up over the summer. I believe we did the one by the state and are putting in the minimum amount (DH doesnt have a job so its all that we can afford).

[Deleted]

Ive had one set up with our state cor DS1 for eight and a half years so we set P's up at the same place. We do a monthly autopay to both accounts.

[Bluedaisy]

Dec 22, 2015 15:02:37 GMT -5 michyme123 said:

We don't have those specifically in Canada, but we do have an RESP account for both boys. We put all their birthday/Christmas/baptism money in there as well as a bi-weekly amount that gets put in.

In Canada the government will top up a portion of it. If they use it for school then they will get all the money we gave PLUS the government money. If they don't go to school, they still get access to all the money we put in, but they wouldn't get any of the money from the government. I think that's how it works anyway lol

+1

[periwinkledaydreams]

FFTC: I have no idea what this means. Off to google!

[gigi3126]

Ugh...I'm terrible with this kind of stuff. H and I opened a basic savings account when I got past the first trimester, and we autodraft into it. Otherwise, I'm lost. Luckily, FIL is a finance guy and has already set up something. H was really lucky and had his college completely paid for as a result of FIL's investing expertise, so I'm happy to hand over the reigns on that.

[gigi3126]

Dec 22, 2015 18:03:26 GMT -5 budders said:

Dec 22, 2015 16:12:06 GMT -5 gigi3126 said:

Ugh...I'm terrible with this kind of stuff. H and I opened a basic savings account when I got past the first trimester, and we autodraft into it. Otherwise, I'm lost. Luckily, FIL is a finance guy and has already set up something. H was really lucky and had his college completely paid for as a result of FIL's investing expertise, so I'm happy to hand over the reigns on that.

Lucky H and glad that his dad had the foresight and that he can replicate that for your LO. The 529 was so important for us because H and I are buried in student loan debt. If we can help V avoid that to any extent, they we'll be very happy.

My thoughts exactly. The cost of higher education is atrocious, but I don't want him to suffer if I can do something to help now. Especially because it's so much easier to put it away right now and not think about it.