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I figured this would be a great place to go for some suggestions on what to do with saving/storing/investing money for your children. Right now we have several people that are contributing to the child's "college" fund. Obviously cash is a terrible and un-safe way to store the money.
We have already discussed that this college fund with bee for either college OR starting a business if that's what he so chooses. We will give the option and see it through. That way he is not forced to go in any one direction, he will be educated and enabled to be able to get a head start on things.
In that we are trying to figure out the best place to put the money. Low yield investment funds? bonds? gold/commodities?
The option to use it now as Monopoly Money is off the table because we do not want to assert much risk on this money since most of it isn't even coming from us.
So fastlaner Parents, what is your advice, experience, data on these types of things??
We have already discussed that this college fund with bee for either college OR starting a business if that's what he so chooses. We will give the option and see it through. That way he is not forced to go in any one direction, he will be educated and enabled to be able to get a head start on things.
In that we are trying to figure out the best place to put the money. Low yield investment funds? bonds? gold/commodities?
The option to use it now as Monopoly Money is off the table because we do not want to assert much risk on this money since most of it isn't even coming from us.
So fastlaner Parents, what is your advice, experience, data on these types of things??
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