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Trying to figure out a good investment vehicle for college savings account

Discussion in 'Business, Careers & Education' started by yjeezle, Mar 28, 2012.

  1. yjeezle

    yjeezle Senior member

    Messages:
    1,698
    Joined:
    Jan 6, 2010
    I'm looking for an investment vehicle for my mentor who's done a lot for me for my career so far. I figure the best thing I can do is try to pay him back at least a little bit by setting up some sort of college fund for his kids (they'll be in college about 7 - 10 years from now).

    I'm not looking to pay for all of their college tuition or anything like that, but I'd like to be able to have some cash appreciate a little bit and hopefully be able to give it back.

    The thing is I don't want him to know about it and I want to kinda just hand it over to him later on (either when I leave my company or when the fund matures, whichever is sooner). I'm also planning on just dumping an initial amount into the (less than a grand) account and just let it accrue interest until the time is right.

    I was wondering if anyone had any ideas?
     
  2. stevent

    stevent Senior member

    Messages:
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    Feb 16, 2010
    

    Most of the big companies like Schwab and Fidelity should have a basic option that works pretty well
     
  3. CYstyle

    CYstyle Senior member

    Messages:
    1,219
    Joined:
    Jul 18, 2009
    as stevent said, ask the guys there about 529k or cesa accounts
     

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