So LO's college account has like $50 in it because I just opened it last month. It's lost a grand fifty cents so far, haha. He got some cash gifts for Christmas and I started to deposit them in his account and then I thought maybe I should wait? But then I'm worried I'll forget.
I realize in the grand scheme of things this won't make or break his college future. Just curious what you would do.
blogger / pineapple / 12381 posts
I started in the Utah Educational Savings Plan (rated one of the two best educational savings plans in the country). It is automatically deducted from my account once a month into each of the girls' accounts.
You want to invest when the account has lost money, because it means that you can buy more of the fund for less money. Our daughters are currently invested in an aggressive domestic fund, but as they get closer to age 18, we'll make it more and more conservative, so that it doesn't risk losing a bunch of money when they need it to be liquid.
Does that make sense?
pomegranate / 3643 posts
@Mrs. Jacks: yeah we have auto deductions set up for our state's 529. I just started the other week though! I was just debating of I should hold onto the Christmas gifts in our savings until it starts regaining. It's probably worth me putting it in now just do I don't forget to do it though!
blogger / pineapple / 12381 posts
@jedeve: You want to put the money in while it's low. You'll get more for your money. Buy low, sell high!
pomelo / 5660 posts
@jedeve: invest now! Markets have downs but it will eventually go up and earn way more than you can in savings account
pomegranate / 3643 posts
Okay now I feel really stupid for asking. 
I need to drink caffeine before looking at finances.
blogger / pineapple / 12381 posts
@jedeve: don't feel stupid! It's great that you are empowering yourself to do this stuff!
nectarine / 2134 posts
@jedeve: I like when people ask investing/budgeting questions on HB because it gets me thinking! I need to do some research and open up a 529 for LO -- thanks for the reminder!
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