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Does anyone have a savings fund for the kid so that when they're older they can have some money I was looking into doing maybe like a Roth IRA for my kids when they're little bit older and putting away money every year so that they can start growing for them like tax free I was looking into that but I know there's a ton of other options I was just wondering and curious to see if anyone else has done any research on this or has looked at any type of fines on that they can save away money and it'll buy grill for them let me know
So we actually started to change the jar for our daughter and there's like quite a bit of money in it now but once we are a little bit more well-off financially we're gonna start putting like actual money in it
I would recommend getting a life policy. You can get a whole life or a UIL life policy where you can borrow money from it, tax-free, and you don't even have to pay it back. just gets deducted from the death benefit.
I would also highly highly recommend talking to a financial advisor a lot of times your insurance company will have one that you can use for free and they can give you some better insight into what will work for you and your family
So as of right now we don't but this is something that like I really want to get cracking on because I didn't have my parents have like a savings fund for me and it's just something that I would really love to do for my kids
I have a savings fund my oldest and ask her to pay being at home for him but he can put money that he wants to keep on spending one and I'm waiting to go to the bank for the other one he does it all themselves and then he go from the Bing for him
I am not a mother but I have set up a savings account for my nieces who are like two and one so that they can have college because my sister plans on having four kids so I think it's a great idea but