Life Insurance for children?

[Tink]

Haley, that's a very good idea. I wish I'd have started something like that for my kids when they were little. It will be an absolute God-send to have when he reaches college age. Well done!

[Marilyn]

I listen to Dave Ramsey a lot when I'm driving, and he does not recommend whole life insurance. He says you can get a better return with other methods of investment. He does recommend term life.

For savings for college there are several different fund options. It would be best to discuss this with a good financial adviser not connected with an insurance company.

If you have no idea where to go... and believe me I do not work for Dave Ramsey, just listen a lot.....you can go to his website, daveramsey.com and click on "endorsed local provider". There you can find a financial advisor in your area who can help you with sound inventment informaton so you can make an educated decision.

Hope this helps. We have a financial advisor, not one of Dave's, but one that we trust who has helped us with investment guidance & in improving our return on our investments. Would highly recommend this, but you need to find one who really loves what they do and will work with you. I had one through a major investment company who did not do as well as the one we have now.

Wish you the best!!!!

[HALEY]

Originally Posted by Tink

Haley, that's a very good idea. I wish I'd have started something like that for my kids when they were little. It will be an absolute God-send to have when he reaches college age. Well done!

My sister 6 year old has the same stocks as i do and she already has 20,000 in her accounts for college, that is wonderful.. My sister helps me a lot she watches stocks daily she is very smart with that stuff, i don't understand it at all, i received the paperwork and took it over her house wrote out a check and she did the rest..
Cause i know im not going to have the money for college, i have a special savings right now for a new car for him when he turns 18. 16 years old forget it.. he'll have to wait. i might put like 20-50 in it a month, put at least ill have a good down payment on a new one for him... i'm trying to be good with our money....