Jack’s Cash

Thanks to a comment I got from Joyce on my Saving for my retirement post I got Dad to check out LittleGrad.com. Essentially LittleGrad.com is a service that provides links to sponsoring companies that will deposit money into your child’s 529 savings plan for shopping at their stores. Basically they have a list (a very extensive one at that) of all participating companies. If you click on a link from LittleGrad.com you will be taken to the company’s site and any purchases you make at their website will be eligible for the bonus that gets deposited into the 529 plan. Each store has their own deal, most are matching percentages some are straight dollar amounts. Most companies will deposit 4-10% of your purchase into the 529 plan, but some companies offer up to 24% matching funds!!

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As I mentioned in my monthly report, my dad after setting up my 529 plan sent out this letter to all his relatives. Here it is

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More good news for me. My dad just opened up a 529 college savings plan for me. I’m not sure why he waited so long to set one up for me as it only took about 3-5 minutes to set up and now I’ve got another tool in my arsenal. For those that don’t know a 529 college savings plan is a plan that lets you invest money to be used for higher education. I’ve covered some of the nitty gritty in this post. –>

While I really do not have much to work with so far, I figured I would discuss what plans I have for investing my money and what goals I hope to accomplish in the short-term and long-term.

At my age I sure have a lot to plan for: there’s college, my first car, my first home, wedding, vacations, retirement, etc. I guess the one thing that people my age really need to plan for is college. It’s really the first major financial hurdle I will have to overcome and without it the other things on my list become a lot harder to attain. (more…)