Question

Okay so I withdrew my sons savings from our credit union because it was too far and inconvenient for deposits for my ex and I. He has a little over 1k. Should I put it on a CD for him or is there a high interest savings account out there y’all recommend? He’s 9 so this will be fire when he starts college. Thanks in advance!  

Answer 1

Start a 529 investment account!  

Answer 2

I have a 529 account

Answer 3

529. my son is a senior in high school and they grow much much more than any savings. CDs don’t grow enough.  

Answer 4

You can actually do a college savings plan which will most likely give you more return for your money. We do them all the time at my work because of situations like this.  

Answer 5

We have 529 accounts for our sons. We also have cash envelopes in the safe. If they receive cash in bday or xmas Easter whatever if its more than $20 we put the additional in their envelopes and at the end of the year we make additional contributions to their 529. Side note my oldest is 2. he doesn't need a $50 bill so $20 goes a long way for him.