Should I go to a bank and ask? what is a good investment to transfer these savings bonds into for college savings? Thank you!
Categories
Thinking of investing your savings?
While increasing your savings is good, multiplying your money through smart investments feels great - there are lots of opportunities out there and you can be successful if you're arming yourself with the right information.
Where to start?
If you're going to try your luck on the stock market or trading options, first start by learning the basics and delay as much as possible buying real positions. One way of getting hands-on experience with the markets is through online trading - either forex or binary options are good learning grounds and most online brokers offer trial accounts free of charge (if you're wondering what are binary options, 24option.com has very good resources on it, besides offering a free practice account and a wealth of information about binary trading in general). Final warning for the very eager: binary options are exotic financial instruments; real trading involves substantial risk of monetary loss.
3 Comments
Good start, but to keep up with the pace of inflation and college costs, savings bonds won’t do it. A 529 college savings plan or a Coverdell savings account is the way to go. An investment company such as T. Rowe Price, Fidelity, or Vanguard will all be better than a traditional bank account.
Ask an advise from ING Insurance. They have great programs for college savings. My 8 month baby girl owns one!
If you are saving long term – 10+ years, you should be in equities (for growth), and not bonds (low return & safety). Bonds are a great place for preserving weath, but not for growing it.