When Should I Start Investing in a College Fund?
Money, Jobs, & College
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It’s great that you’re thinking about your child’s education already. In 18 years, can you imagine how expensive four years of college will be?
Your best bets for college savings are the Education Savings Account (ESA) and the 529.
With the ESA, you can put $5,000 per child, per year, and the growth will be tax free. The down side is that the ESA has income limits.
So if you make too much money to use it, consider the 529.
With both of these, you need to talk to a financial planner to see what the best option is for your situation. No matter what, make sure you choose an option you are in control of!