[blparent] Saving for your kids college

[PaPa C]

hello I want to renew my nfb membership as a full time dad of the nfb
I am a father to a 5month old little girl named Obianuju eeileen Oguledo!
So add me to parends division of NFB Do I have to pay 2join

On 5/7/18, Jo Elizabeth Pinto via BlParent <blparent at nfbnet.org> wrote:
> Keep in mind that a college savings plan may not have the growth rates you
> want in an investment. I got one for my daughter years ago with her dad,
> which we could do because I have SSDI rather than SSI and because our
> daughter gets a Social Security benefit of her own, at least ten percent of
> which needs to be accounted for as having been invested in her future each
> month. But the chief reason we got one--the fact that money cannot be taken
> out of it for other uses till our daughter turns eighteen without serious
> financial penalties--may be a drawback rather than an asset for other
> people. It's an asset for me because frankly, her father is a spender and
> not a saver, and I wanted the money to be placed in the college plan and
> left there, without fail, not taken out later for other uses. If the money
> had been put in other, more lucrative investments, it could have been taken
> out and used for other purposes. Still, the costs of college are growing
> much more quickly than the interest on the money in the plan is, and I'm not
> sure there will be nearly enough to cover what is needed by the time my
> daughter comes of age. The money can be used for other purposes, by the way,
> once a minor child turns eighteen. It's still best to speak to a financial
> planner regarding the specifics, but I did have those questions about the
> plan.
>
>
> Jo Elizabeth Pinto
>
> “The Bright Side of Darkness”
> Is my award-winning novel,
> Available in Kindle, audio, and paperback formats.
> http://www.amazon.com/author/jepinto
>
> -----Original Message-----
> From: BlParent <blparent-bounces at nfbnet.org> On Behalf Of Star Gazer via
> BlParent
> Sent: Monday, May 7, 2018 4:34 AM
> To: 'Blind Parents Mailing List' <blparent at nfbnet.org>
> Cc: Star Gazer <pickrellrebecca at gmail.com>
> Subject: Re: [blparent] Saving for your kids college
>
> 			Tara,
> Some questions you want to ask.
> What is the value in putting money into a 529 via other forms of saving
> accounts?
> Can you get the money out for some other purpose before college?
> What happens if your kid doesn't go to college?
> I kind of think that the 529 folks are selling an idea "Your kid will go to
> college" because nobody ever thinks or says "My kid isn't college material".
>
> What happens if your kid wants to go into a trade profession or doesn't want
> to go to college at the traditional time?
> What happens if you and your husband divorce? I'm by no means suggesting
> that will happen, but you want to have an answer to that.
> Think too about why you want to start saving for college now. What event
> triggered this thinking. Is it rational?
> If I remember/think correctly, you guys are LDS right? If yes, BYU offers
> incredibly low tuition for LDS members. Keep that in mind.
> I'd suggest meeting with an accountant or finantial planner, maybe even
> both. You can also talk with an estate lawyer.
> I mention all these because these people should be able to give you current
> data.
> You may even want to call NFB and ask how a 529 or any other kind of
> saving/investment plan would impact bennifits. A good accountant, estate
> lawyer, or finantial planner should also be able to answer that question.
>
>
> -----Original Message-----
> From: BlParent <blparent-bounces at nfbnet.org> On Behalf Of Tara Briggs via
> BlParent
> Sent: Sunday, May 6, 2018 5:52 PM
> To: blparent at nfbnet.org
> Cc: Tara Briggs <thflute at gmail.com>
> Subject: [blparent] Saving for your kids college
>
> Hi all! My husband and I would like to save some money for our daughters
> college. I don’t know anything about this! I guess there is something called
> a 529 savings plan but I don’t know anything more than that. Does anyone
> know about this and know where some accessible information is? I’ve gotten
> onto website called saving for college.com and it’s one of those it’s pretty
> painful accessible. So any help would be gratefully appreciated! If this
> seems a bit off topic feel free to write me off list. Thanks so much!
> Tara
>
> Sent from my iPhone
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