There is a ton of people saying the have them, but I was wondering if
there was some simple way to open a roth and save money for a child's
education. I know there are 529s. I have heard both are okay.

I also thought a roth might be helpful for me. I don't know. Thanks
for any help.

In article <1129348431.374472.306380@z14g2000cwz.googlegroups .com>,
needin4mation@gmail.com wrote:

See a broker or a banker. Both can likely help you out, and
help you get some educational materials (ie, a Roth is for
retirement, not for education). You need to make sure that
your future is secure before you plan to give any money for
an adult child to go to college.

-john-

--
================================================== ====================
John A. Weeks III 952-432-2708 john@johnweeks.com
Newave Communications http://www.johnweeks.com
================================================== ====================

Questions about Roth IRAs are so common that you can google for "Roth IRA'
and come up with many perfectly good hits to introduce you to them. See for
example

http://www.fairmark.com/rothira/

http://www.bankrate.com/brm/news/drdon/20011129a.asp

http://flagship3.vanguard.com/VGApp/...tirement/ATSRo
thIRAOverviewContent.jsp

Caveat: The only outdated information I find at such sites is typically the
annual amount one is allowed to contribute to one's Roth IRA. This number
has changed somewhat in the last few years. Look for statements on the
limits that include "2005" or "2006."

Almost any flavor of financial institution will be happy to open a Roth IRA
account for you. Stock brokerage houses, mutual fund companies, and banks
are popular such institutions. E.g. Wells Fargo, Fidelity, Vanguard, Bank of
America should all be happy to help you open an account. In addition, you
can hold several "Roth IRA accounts," spread over several institutions.

The key is to minimize fees for your Roth IRA account. Vanguard is among
the leaders for low mutual fund fees, for one. Plus mutual funds are a
prudent choice for a new investor. (You can ask for specific advice about
stocks/mutual funds/bonds to put into your Roth IRA account in another
post.)

Roth IRAs aren't per se for saving for a child's college education, but, as
you will see at the aforementioned sites, they have flexibility built into
them for expenses like a child's college education. E.g. with a Roth IRA,
one may withdraw contributions (a.k.a. "principal") at any time without
penalty. By contrast, generally the earnings cannot be touched until
retirement, unless one wants to pay a stiff penalty.

You an google for {529 college savings} and get a start on 529s. I've never
actually owned one, so I defer to others.

Disclosure: Of the institutions named above, I have held accounts only with
Fidelity. I am a Do-It-Yourselfer and do not financially profit from any
suggestions I make here or elsewhere.

<needin4mation@gmail.com> wrote