Four Savings Options for Your Newborn’s Future

Four Savings Options for Your Newborn’s Future

The arrival of a newborn is an important occasion for parents that often prompts them to think about the financial future of their child. Although it may seem far-fetched, they know that a child’s adulthood can come with many expenses, including college, housing and weddings, to name a few. To help with these expenses, parents usually consider a savings plan for their newborn that will grow and help with these future expenses.

There are a few different ways a parent can save for their child, each with advantages and disadvantages. Some of the options include 529 plans, UTMA accounts, brokerage accounts and savings accounts.

529 plans

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