#college-savings

#college-savings

Trump Accounts are designed to be tax-advantaged, long-term savings vehicles for families to leverage on behalf of children born in the US between 2025 and 2028. These accounts include a $1,000 government deposit when they're opened. Families can also make annual contributions of up to $5,000, which can be invested until the child turns 18.

My life now is much lower key. I make enough to pay my bills and enjoy a life out of the office. Here is the thing: I bought a lot of stock for my nephew, "Jonah," my brother's son.He was the only kid on both sides of the family, and I wanted to provide for him. The stocks went really well. Jonah has over $100,000 set aside for college when he graduates in a few years.

One Redditor suggested putting $50,000 into a 529 plan the day your child is born and then forgetting about it. Of course, you have to put the money into a good ETF for the funds to compound, but if you do that, you may have enough money for your child's college education.

Investing in volatile markets can be particularly stressful for parents depending on their savings for imminent expenses like college tuition. Market unpredictability is a constant challenge.