Useless. Based upon current inflation, by that time college will run about $1.2M a year. Good luck saving for that.
Support your children in homeschooling the grandchildren.
Put the money away...make them work for their education.
Once they’ve graduated, are gainfully employed and are married, give it to them as a downpayment on their first house instead.
Why force the grand kids into college? By the time they are old enough to leave High School, we will need tradesmen and people who know how to build and create. These are good paying jobs and much more needed than another Sociology or Marketing degree dope whining about no jobs.
However many M1 Garands you buy with $60,000 along with however much ammo you can buy with $25,000, maybe? Or whatever combination you’re comfortable with.
By teaching them to get their hands dirty and sending them to a trade school.
Second. 15-20 year zero coupon bonds when the EPT tests positive. Don't send them to an expensive college, a local state school would be ok, and be sure to make them go to vo-tech school while in HS to 1) pick up college credit, and 2) give them a blue collar education. I suggest welding, machining, electrical and plumbing classes...something to fall back on just in case. They will thank you for it later.
donate to Organize Wall Street so that in the future it will be free /sarc
As a CFP myself I usually tell my clients should never use the UTMA/UGMA for college funding in case there is a probability of financial aid. If a large lump sum can be made early in the child’s life then the 529 can make sense.
If not, give the money to the parents to invest. It works better than in the kid’s names for financial aid.
And I ALWAYS advise them to buy the book “How to Pay For College Without Going Broke” by Kalman Chany, who truly is America’s best expert on the subject.
Buy them a pick and shovel...that is where we are headed and they will learn more working with their hands then they will in any of our government financially bloated education centers.
Take the money and buy them as much good fertile farmland out in flyover country as you can afford. You will have absolutely no problem renting it out until they are of age, and they can then decide whether to sell it and use the money to go to college, or keep it and have a source of income and a place to live, no matter what happens between now and then. I’m serious.
Vote the Marxist Bass Turds and all those who support their policies (RINO's) OUT!
Like IRA's, I feel they are a scam, this one to the benefit of the "education establishment." Let the little people feel like they are doing something by gathering little pots of money for themselves or their kids. It is all registered and declared anyway, and will eventually wind up in our hands one way or the other....
Send them to trade school for two years. Then they caan work and pay their own way through college.
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This article is a perfect example of how broken our tax system is. You can’t even give a gift to your grandkids without hiring someone to account for the tax ramifications. And then, there is no right answer, just guesses based on current estimates. It’s past time to scrap the whole rotten tax code and start over.
“What’s The Best Way to Invest for Your Grandchildren’s College Education?”
Hands down the most cost effective way, would be not any specific investment vehicle, but to work to put in power politicans who will end the BigEducation hog trough.
Specifically, an end to government subsidizing of “higher education” will overnight make these grossly inefficient and hideously expensive institutions conform more to the disciplining fiscal rigor of the free market.
Net result: Markedly more affordable, reasonable and practical programs and educational paths.
