I'm a new father to a beautiful 8 month old girl. What can I do today to help her have a decent sum of money in 18 years to use towards college or whatever pursuits she chases as she begins adulthood?
I've looked into 529 plans, but it seems like those are exclusively to be used for college tuition. My hope is that she will be starting college in 18 years, but if she doesn't, I still want her to have some money available to get a jump on her adult life.
What types of savings plans can work for this? I've looked at some calculators online. $1,000 invested over 18 years with $1,000 deposits each year can turn into $80,000 in 18 years. Not sure how accurate that is nor do they say what investment plans they're using, but I would love to be able to provide something like that for my daughter.
I didn't find anything in the Wiki about this and my searches of this sub on this topic didn't tell me anything new. I appreciate any advice on this!
Submitted October 11, 2018 at 09:56AM by therudyshow https://ift.tt/2yzsYxW