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The Best Way To Save
How To Save?
There are several ways to save for college education. Children can open their own savings account, savings bonds can be opened in the name of the child, parents/grandparents can open a 529b, Coverdell Savings account, and our favorite, the Kid IRA®. To judge for yourself which investment vehicle is best, here is a comparison chart with features to look for:
If you’re wondering what the difference is in the different ways to save, use the calculator below to estimate how much money you’ll have when you/your child is college-bound:
Based on your values, will have been raised by the time college comes around by using strategies using a Kid IRA. Other savings options can yield much less.
Testimonials
Back to school shopping at Office Depot was great! I ordered everything online and picked it up in the store the same day. And I added to my kids' college fund too!
— Alexis N, Mother of 3, New MexicoI'm so excited I get to start planning for my son's finances now. By the time he's in college, he'll have a nice chunk of change to help him with tuition.
— Brian S, Father of a 2 year old boy, MarylandMy daughter is learning work ethic, investing, and the value of a dollar. I'm so proud!
— Elaine G, Mother of a 14 year old girl, New YorkIt's so easy recommending stores to family and friends. I like it when I can send them a coupon to help them save money too!
— Julia H, CaliforniaWorking at Kid IRA® has allowed me to start earning and saving early. I can't wait to be a millionaire!
— Ricky L, CaliforniaThere's never been an easier way to give to my nieces and nephews. And it doesn't cost me anything extra!
— Ronald U, FloridaThe best part is seeing how these kids are learning to manage their money. I'm so glad I can say that I'm playing a role in their lives.
— Bella K, Arizona
What Others Are Saying
Ten Cool Companies of 2010
KidIRA takes it further, giving parents (and other "supporters") an opportunity to save for a child using a tax-advantaged Roth IRA as the savings vehicle instead of a 529 plan...I’m all for more Roths for kids. It seems to be a too well-kept secret that kids can have Roths.
- Upside of MoneyIRAs for Kids?
Not only will modest contributions add up to significant savings...but it's also a way to teach your child an invaluable lesson - one he or she isn't likely to learn in school.
- Smart MoneyIRAs for Kids
It will only take a few seconds for you to realize how powerful this can be for your child's investing and financial future.
- Motley FoolStart your kids on the Roth road
...a Roth IRA offers the greatest opportunity for growth because the money grows tax-free. Kids don't need the deferred taxes feature of a traditional IRA because they're probably not paying taxes.
- Bankrate.comWhy Your Kids Need a Roth IRA
Looking for the perfect gift for your children? Open a Roth for them, and start them on the road to retirement security.
- Kiplinger
