first bank account
We opened Eidan's first savings account two saturdays ago. He had a little bit over $400 to start. This was the cash he got during his baptism. Not bad for a baby, huh? =) Tuturuan pa nmin syang magmano so he can save more.. Lol! He'll need all the cash he can save for college para mabawasan ang student loans-to-be nya. Just last week, i heard in the news na $30k per year ang fee sa state universities. How much more if he decides to study in a different state =(
We've also opened a 529 plan (if i remember it right..) for him. It's basically the college plan offered by the state. This will help us start saving early for his future and hopefully get closer to the $240k (not factoring in yet the inflation in the next 18 years) he'll need for college.. Phew!
We've also opened a 529 plan (if i remember it right..) for him. It's basically the college plan offered by the state. This will help us start saving early for his future and hopefully get closer to the $240k (not factoring in yet the inflation in the next 18 years) he'll need for college.. Phew!
posted by jane @ 11/09/2010 06:24:00 AM
4 Comments
4 Comments:
the 529 is pre-tax, right? and it will remain pre-tax pag sa education talaga ginamit. but you can withdraw it din for other purposes, for a fee. i wonder kung pareho ang laws sa FL and IL about that.
atat na rin akong mag-open ng account ni pistoy! kaya lang wala pa syang Social Security Number. hehe! sobrang mahal ng education dito no? we initially thought of sending him sa private school for elem, pero parang mas practical na i-save na lang yung pera for college. we just have to make sure we move to a better zone/neighborhood so he could attend a good school.
teka, sobrang several steps ahead na agad. hehe!
galingan mo mag-bless Eidan, lapit na pasko! ;-)
wow! that's a lot of money! pang bahay at lupa na hehehehe
ang laki talga ng amount mommy lhot.. grabe noh! *sigh*
bengers, i think it's after tax.. (check ko ulit) pero pag ginamit mo na, wala ng tax.. and yes, dapat for educational purposes para walang fee..
mahal din ang private schools.. kaya we bought our house dun sa area na may mga top public schools.. =D sabi ko nga kay oneal pag sobrang mahal talga ng college, sa pinas na lang.. lol! we turned out nicely naman di ba? hehehe.. *grins*
for the bank account, kelangan ng ssn and birth cert nga.. =) sakto lang para sa mga aguinaldo ni pistoy sa pasko!
ang galing naman nyo! naisip nyo na yan..si joaqui mas malapit nang magcollege wala pang college fund. hehe. ok din ang mga catholic schools, di masyadong mahal than other private schools..lalo na kung parishioners kayo.
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