| ▲ | kristianp 3 hours ago | |
We have bank accounts for our kids, currently earning 1.75% because we aren't depositing money every month. If money is deposited it's another 3.3%. I really need to get around to setting up Vanguard for them. Thanks for the reminder! | ||
| ▲ | nsvd2 2 hours ago | parent | next [-] | |
1.75 is less than the money is losing value from inflation. If that savings is in USD it's quite a bit less than inflation over the past five years. | ||
| ▲ | samudrijan 19 minutes ago | parent | prev | next [-] | |
Look into a 529 college savings plan. | ||
| ▲ | hiddencost 15 minutes ago | parent | prev [-] | |
VTSAX, ASAP. Inflation is usually estimated at 3% + annually over a long enough time horizon. You're losing money. | ||