Hi! We’re planning to buy a property in Orange, California thru a housing loan. However, we also wanted to start saving for our kids’ education. This is going to be tight for me and my husband til we finish our housing loan. I’m wondering if an educational plan would be of big help. Do some of you still rely on this? Thanks.
Hate to say this is an Australian based property website so you are not going too many responses.
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Richard Taylor | Australia's leading private lender
Few people are now relying on education plans. Some are bankrupt already. What I did was I invested on a Taco shop branch my cousin owns. We just opened a branch where I am a part owner. My 2 kids are also entering college soon.
That’s great! Good for you! I thought about investing in stocks before, but the minimum investments are way high and we just don’t have that much extra funds. We need our funds liquid just in case.
Re college funds, yes, I got the same feedback from other people I asked. I am also looking into life insurance with cash value by the time my kids turn 18. I think it is a pretty good idea that they can decided whether to keep the insurance or convert it to cash. kinda their first financial decision. We are still going to move forward with our home purchase. Another investment for my kids, as I see it. We have 2 offers – one from our bank, BA and one from the credit union. I am still unsure about the credit union, but they give a good rate, so we are leaning towards that.
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