Talking To Kids About Money

Here.

I found a new site focusing on a topic near and dear to my heart -- educating kids about money -- so I thought I'd log it for future reference (although you're free to read my thoughts about it, too : ).

Clearly Chris has been listening to NPR this morning. :)

I was, indeed, Mike. : )

"Chronically frozen"? Is this some Microsoft Word substitution for 'cryogenically'?

See if you can get Word to do something about "whose" and "who's" while you're at it.

Paying for your kids AND your grandkids college? wow man you must make quite a bit more than the average developer out there.

The bubble years were good to me (although not nearly as good as some of my friends), plus I've got the saving for the future thing pretty much down.

http://www.amazon.com/exec/obidos/tg/detail/-/0912986212/103-1615824-4379844?v=glance

Good luck getting frozen and rethawed this year and the year after that and the year after that ... :)

Seriously, though I really like your idea of the grandparents' paying for college. In Canada we have this thing called an RESP (Registered Educational Savings Plan) where you can donate up to $2000 / kid / year and the government matches that amount up to $400. Its a tax-free account to boot.

Now, if the government can only issue Matthew a social insurance # I can actually open one of these things. He's 7 months old now ... we applied the week after he was born ...

We have pre-paid college funds in the US as well as 529 plans, which are tax-protected savings accounts for college. However, I prefer the flexibility of saving the money in other vehicles and awarding it after the tallying for financial aid has been performed.

I was able to get my kids' S.I.N. in about a month.

Wouldn't paying for your grandkids education be more expensive? Sure you get more years of interest -- presumably about 25. But you likely would have more grandkids than kids.
Further, doesn't tuition grow at a rate equivalent to 10 times the inflation rate + 10 times the prime rate?

Tuituion has grown 7%/year in recent years, i.e. doubling every 10 years.