Summer vacation started today (I am a high school teacher) and I'm sitting here with my 6-week old son (first child).
This is the first summer I've had in a long time that I'm not rehabbing a newly acquired rental (or turning over a few units) and I'm thinking what to do...
I do have a downpayment saved up so I'll jump on a good deal if one comes around soon but I'd like to start a new indexed investment for my son.
Maybe a 529 savings plan or custodial brokerage account (UGMA/UTMA). BP parents, what do you do?
I personally started with UGMA. As long as you stay under certain limits in terms of realized gains, you don't even have to file a separate tax return for your child and all the gains are tax free.
Call me completely anal retentive or realist, or both, but I didn't start the 529 until last year when my 1st child is hitting on his developmental milestones and we also had a 2nd child.
Self Direct IRA with a focus on Notes?
@Jay Raught I have no experience with that. Wouldn't know where to start. But thanks!
@Max T. You can start here. I am using my SDIRA right now, I am considering an ESA also so I can pay for private school. I currently own 7 notes and I am in the process of reviewing another tape shortly.
Whooping Cough vaccine. Lots of snuggles. Breast milk.