Minneapolis/St. Paul Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Saving for college...
We need to get started with an account for our son. What do you all do (529 plan [and which one], ESA, IRA, other)? Did you use a financial planner or figure it out on your own? If you had help, please pass along any recs.
ETA - Thanks in advance!!
Re: Saving for college...
The buzz in the financial world is how insane college is going to be and that it's foolish to throw money at one purpose when we'll need to have as much flexibility as we get older with money. The idea being our kids will have 20-30 years to pay off student loans but in 20 years we could be dead or well into old age and need all the retirement savings we can get.
My parents have a well regarded financial planner who has done original, published research in the financial world and he advises against college specific plans like the 529. So a financial planner will help you figure out where to put money- stocks, IRA, 401K, etc. etc. that suit your age, income, level of risk, and future goals.
I agree with what Elizabeth is getting at. Saving is super important, but I don't want to save for my child's higher education at the sacrifice of my retirement. I would much rather have my funds available for a wider variety of expenses.
A Little Bird and a Monkey Butt
I agree with what Elizabeth is getting at. Saving is super important, but I don't want to save for my child's higher education at the sacrifice of my retirement. I would much rather have my funds available for a wider variety of expenses.
A Little Bird and a Monkey Butt
We will definitely be saving for our sons education - no way do I want him to start out with a ton of loans. I appreciate my parents were able to do it for my sister and I, unfortunately, we're paying on DH's loans and will be for awhile but it's better than if we were both in debt.
Luckily, DH has a fantastic pension on top of my 401K and a few other savings plans so we will be able to save for at least part of our childs college education from the start.