that bank stand off thread got me thinking

[olevetonahill]

and yes it hurts
But all the "change stories " did get me going
Now all you financial types , help and ole vet granpa out .
For years Ive dumped my change in a jar and befor Christmas I count it out ,roll it up and spend it on the granbabbies . Just to see in 2 days time the toys busted and they are playing with the boxes .
I have decided to cash in the change and give some kinda savings , stock, ? Something they will have when they need it most like going to OU or somepun any ideas ? any help ?
Thanks :confused:

[Frozen Sooner]

529 Plan.

[olevetonahill]

529 Plan.
splain ?
and please remember Im ex recon :)

[OUinFLA]

529 =

put 5 cents into your jar
every 2 days
for 9 years..................then,

"befor Christmas I count it out ,roll it up and spend it on the granbabbies ."

Saves you doing the counting and rolling thing for 8 years. By the second time, they will be enrolled at OU and really need the money to go to the tailgates.

[Hamhock]

529 Plan.


ditto

[Frozen Sooner]

splain ?
and please remember Im ex recon :)

It's a tax-deferred savings plan administered by each state to help kids pay for college education. Go talk to a licensed financial planner-they can give you details on your state's plan.

[Hamhock]

it's actually more than tax "deferred" if you use it for college.

you put money in it. the money grows tax free and earnings are never taxed if used for college. some states give state tax breaks if you invest in the plan sponsored by your state.

go to savingforcollege.com. i "licensed financial planner" will put you in the same product, except charge you a commission.

dave ramsey likes educational savings accounts better than 529s :)

[olevetonahill]

thanks