alt Hacker NewsWe 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!
Replies
samudrijan • today at 4:31 AM
Look into a 529 college savings plan.
hiddencost • today at 4:36 AM
VTSAX, ASAP.
Inflation is usually estimated at 3% + annually over a long enough time horizon. You're losing money.
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.