Tuesday, September 2, 2008

Confused about how to save for your child's college education?

Well you're not alone.

Over the weekend our good friends and their 4 year old daughter came to visit us. In addition to the hiking and horseback riding we also ended up discussing taxes and college savings plans. Not having children of my own, I haven't spent a lot of time looking into the details of tax-deferred college savings plans but I know how important they can be for a family with young children.

As a result of our conversations I decided to do some research to help my friends out and figured that you might be interested in what I came up with.

Liz Pulliam Weston on MSN Money does a great job explaining the difference and the benefits of the college savings options that are available in her article "College plans for the rich, poor and in-between" and provides what she considers the top 5 college savings plans in her article "The 5 best college-savings plans".

Check out the two articles and let me know what you think.

Later this week I'll explain how college savings plans and other investment choices can help to reduce your taxes. Less taxes = more money in your pocket.


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