I’m currently 20 weeks pregnant with my first baby, and this past weekend we found out we’re having a girl! Very exciting! Now that the reality has officially sunk in, we’re starting to get her nursery set up and working on getting everything ready for her arrival. One of the things my husband and I have been chatting about lately is setting up a college fund for her. Obviously, I’m new at this, so does anyone have any recommendations on how to save for baby’s college?
I’ve heard not-so-great things about those Gerber Baby college funds, so what other options are there? Living in Florida, my parents saved for my college via the Florida Prepaid College Fund and it was nice to know that I had a fund available to help me pay for my schooling. I’d love to be able to do the same for our daughter, but I know there have to be better ways to save than to just open up a savings account. I’d like to invest that money in a place that’ll yield some returns so that it’ll grow over then next 18 years.
Congratulations! I bet you now have baby names swirling through your head! We used both 529 accounts and UGMA accounts for my kids’ college savings. It was nice to have a balance, but the 529 seems to be the best way to go at this time. The best advice is to start early.The time really does fly by faster than you will ever realize.