Financial Aid!!!

[Luckyluciano]

When I first started out with a big company job i was in 401K plans with employeer match and all that Jazz. After that I was into a Roth IRA. Now after being married, having two kids and buying a new house a couple of years ago all that money is gone. I now work for a small company that does not offer anything.

I could always go back to the big companies (Casinos), but i honestly make alot more money working for a smaller company - with alot less hassle.

But my question is - is there anything new or old out there that I can start doing to 1. Start saving for childrens college education and 2. Retirement I really don't know anything about this stuff and would appriciate any opinion or specifics that you guys might be doing or if anyone was in a similar situation. I am 34 and my kids are 5 & 2 and it is way past time I start saving again...

Thank You!!

[domafia]

Kids - stash money away in a 529 college savings plan. Depending on what state you are in, the money you contribute to the account can be in CD's or mutual funds and interest earned is tax free. Your kids get the money credited towards tuition, books, etc when they go off to college.

You - Start stashing the cash in a Roth IRA again. If you have no other retirement savings then max out your IRA contributions each year (should be $4000 this year).

[Big Pimpin]

No offense to those that may reply.


1. Talk to your/a financial planner or a really good tax guy. They can hook u up


2. JeromeFromSoutheast is one smart stock cookie so he may be able to help u also

[rda21]

If your state has them, check out the Bright Start College savings plans. (529B Plans) your contributions should be deductible on your taxes. They are also liquid to you if you nned to take the money put for an emergency. Just do a "search" for Bright Start to get the info.