I was told this was an american custom for many years, but with these changing times isnt a long term bet now? (not mentioning the raising tuiton fees including "public" universities). Just wonder whats going now mainstream regarding this topic,whats your experience if any
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In canada we have something called Registered Education Savings Plan (RESP) where the government matches the parents deposits into the fund up to a certain % depending on household income. So it pays to put $$$ away for your kids post secondary education.
The best part is the kid just needs to enroll in college/university/trade school and they get a check, it may be split into 2 payments I don't recall the exact details. The kid can spend it however they like, which can go either way when an 18 year old get's their hands on $$$... but that's up to the parents to deal with.
I max ours out, hopefully my kids will stay in school longer than I did!Kenny -at- YourPaysitePartner.com
Skype: kennyb514
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Yeah. Bunch of fucking morons. A YouTube education is freeOriginally posted by JohnnyClips
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God you're fucking too stupid to live.Originally posted by JohnnyClips
How do you even operate your computer?
You should start a business with MrMaxwell.Comment
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yeah i understand its a saving process that in other time could have made sense, nowadays who knows what tech brings us in the next years and if its better to invest that money somewhere elseComment
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Haha. I intend to be in this industry the rest of my life and die young.GetClicky - The World's Most Advanced Real Time Ajax-based AnalyticsComment
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Why would I do that? I already went to college.......Comment
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I just scrapped my IRA account, it has been losing money since Day 1.
I will pay for my kids community college and some extra curricular things (ie one on one instruction from someone in the field they want to go in, learning a specific skill and getting certified... etc).
I wish my parents just bought me some books on internet marketing and business and maybe spent some money on flying me to conventions or something and maybe gave me a few k to pay for a server and some traffic or something. Instead they payed for the first 2 years of my college at a private school (out of 7 years lol but i transferred to a state school after ha).Go Fuck Yourself!
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Learn a useful skill like brewing beer or distilling your own liquor. Taboo, yes; but, not illegal.Comment
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I loan
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IRS (USA) The earnings from a 529 are not taxable but the money invested is in after tax funds. There may be some state plans available to you or other tax angles where you live.
I think two year college funding in technical, vocational or applied sciences should be taxpayer supported or subsidised. The better educated a workforce is the more competitive it will be in high value production.
Why use a 529 plan? There are advantages of 529 plans and one may be suitable for your family’s needs. Earnings are not subject to federal tax when used for eligible college expenses. Earnings are often not subject to state tax. States may offer other incentives to in-state participants. There are no income restrictions on individual contributors. Contributions are only limited by the qualified education expenses of the beneficiary. You can change the beneficiary of a plan if the new beneficiary is in the same family. You can open a plan benefiting anyone: a relative, a friend or even yourself. The plan owner or custodian controls the funds until withdrawal, not the beneficiary.Last edited by Barry-xlovecam; 07-14-2012, 05:06 AM.Comment
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I like to think that everytime I pay for a lapdance, that I am putting money in her college fund“If we are to have another contest in the near future of our national existence, I predict that the dividing line will not be Mason and Dixon's but between patriotism and intelligence on the one side, and superstition, ambition and ignorance on the other.”
-- Ulysses S. GrantComment
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I set up Virginia College Savings Plans for all three kids. After tax dollars go in now and money will come out on the back end for all school related expenses without taxes on the gains. While I don't expect to be relying on this, it is still a precautionary measure to protect some specific dollars for their benefit and with ten more years of primary education left the funds are doing quite well even in consideration of the anticipated future cost. The goal is to guide the kids into making fulfilling life and career choices, life is anything but being all about the money.
Cheers
BradPresident at MojoHost | brad at mojohost dot com | Skype MojoHostBrad
71 industry awards for hosting and professional excellence since 1999
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ROTH IRA - It's a retirement account for you, where the contributions are taxed but the gains are not. However, unlike traditional IRA's you can pull the money out early without penalty for your or eligible family members higher education expenses, first time home purchase costs, as well as other non-penalized withdrawals such as for disability or medical expenses, payment of insurance premiums if you are unemployed for over a year, and in some cases payment of back taxes.
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most of my money is in the roth IRACompound interest.Comment
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So you can have your money working for you rather than you working for it.Originally posted by JohnnyClipsKenny -at- YourPaysitePartner.com
Skype: kennyb514
Do business with us:
Your Paysite Partner
Kenny's Pennies
Sticky Dollars
Radical Cash
Indie Bucks
Stand Ahead
Read My Ambush Interview HereComment
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President at MojoHost | brad at mojohost dot com | Skype MojoHostBrad
71 industry awards for hosting and professional excellence since 1999
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Spoken like someone who's "business" is still just part time. I was there as well. You do grow up eventually thankfullyOriginally posted by JohnnyClipsYea but saving cash or putting it into some stupid fund or IRA or bank doesn't give you jack shit...I'd rather invest it in my business and get a 100% return in a month or two....vs 4% over a year lol
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