savings bonds?

[forgeblast]

There's no such thing as a free lunch. If I remember my Heinlein correctly that on the flag of the moon.

With online learning, I see it as pushing a lot of professors to part time status, or even one time payments(ie consultant) to develop a class. Once the class is developed and the mod (learning modules shot on video) created, t.a's (teacher assistants) can do the grades. That is the way my program works. Which means for a university, they can run the class every semester, even intersession and only have to pay a t.a. or even tie it into their scholarship/grants.
My online program isn't free, it cost the same, except I do not have to pay a facilities fee.
The udicity program give you free access to their courseware, but for a select number of courses you can enroll in the full course experience. This gives you access to projects, code-review and feedback, a personal coach, and verified certificates.
from https://www.udacity.com/faq
The price varies depending on the course. All prices are given per month. You can find the price on the Course Overview page along with an estimate for how long the course will take to complete.

 

[smstonypoint]

The udicity program give you free access to their courseware, but for a select number of courses you can enroll in the full course experience. This gives you access to projects, code-review and feedback, a personal coach, and verified certificates.

Do any accredited colleges/universities accept these courses for transfer?

Steve

 

[nc redneck]

I bonds are tax deferred for 30 years. They can be used for collage cost tax free if you meet income requirements. US Treasury offers a free program called bond wizard. It keeps track of all of your bonds by serial number and interest. They can be replaced in case of fire or lost. Great program I have been using it for years.

 

[forgeblast]

A First for Udacity: Transfer Credit at a U.S. University for One of Its Courses - Technology - The Chronicle of Higher Education It appears a university in Colorado as well as university's in Germany and Austria accept their credits.

 

[Soundguy]

My point is that it is prudent to save for the education of your children (or grandchildren) regardless of whether that education is obtained at a "bricks and mortar" institution or via "online" education.

Steve

ahh.. so.. the answer is likely 'no' then.

 

[smstonypoint]

ahh.. so.. the answer is likely 'no' then.

That would be my guess.

Steve

 

[dmccarty]

I think it was Clark Howard on HLN news that said, if $5000 were invested in the mutual funds at birth, that child could retire a millionaire. I have been patently waiting for a chance to do that but no grand kids yet. Lucky you, congratulations!!

One simple rule of investing, is that money invested in the stock market, should double every seven years.

So $5,000 invested when a child was born would be around $40,000 at age 21.

If that money was used for retirement, and the child retired at age 63, the money would double nine times and it would grow from $5,000 to around $2.5 million. At least if I did my math right! :laughing::laughing::laughing: Think how solvent the US government would be if they just setup an account with $5,000 for each child born in the US to be used for the child's retirement. It would be far cheaper...

Later,
Dan

 

[smstonypoint]

One simple rule of investing, is that money invested in the stock market, should double every seven years.

.

Using the rule of 72, that equates to an annual rate of 10.29% (rounded). The exact rate is 10.41% (rounded).

So $5,000 invested when a child was born would be around $40,000 at age 21. If that money was used for retirement, and the child retired at age 63, the money would double nine times and it would grow from $5,000 to around $2.5 million. At least if I did my math right!

$2.56M to be more precise -- assuming no income taxes.

I like finance.

Steve

 

[MossRoad]

.

Using the rule of 72, that equates to an annual rate of 10.29% (rounded). The exact rate is 10.41% (rounded).



$2.56M to be more precise -- assuming no income taxes.

I like finance.

Steve

Now figure it if you put $20 a week in (about a thousand per year) from day one until the kid turns 18, then add no more and see what the kid has at ages 30, 40, 50, 60 and 70.

 

[MossRoad]

And for real fun, figure it with $5000 per year for 10 years, then add nothing and see what the kid gets at those ages. Shocking.

 

[smstonypoint]

Now figure it if you put $20 a week in (about a thousand per year) from day one until the kid turns 18, then add no more and see what the kid has at ages 30, 40, 50, 60 and 70.

And for real fun, figure it with $5000 per year for 10 years, then add nothing and see what the kid gets at those ages. Shocking.

Are you directing that request to me?

As the great man said, "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest." In other words, there's no free lunch.

I would be happy to perform those calculations in return for modest compensation.

Steve

 

[MoKelly]

He also said, "To feel for others and little for ourselves; to restrain our selfishness and exercise our benevolent affections, constitute the perfection of human nature."

MoKelly

 

[smstonypoint]

He also said, "To feel for others and little for ourselves; to restrain our selfishness and exercise our benevolent affections, constitute the perfection of human nature."

MoKelly

I never claimed I was perfect.

Steve

 

[MossRoad]

Are you directing that request to me?

As the great man said, "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest." In other words, there's no free lunch.

I would be happy to perform those calculations in return for modest compensation.

Steve

Yes, please run those numbers. Your compensation will be my gratitude, which is modest. :laughing:

 

[smstonypoint]

Yes, please run those numbers. Your compensation will be my gratitude, which is modest. :laughing:

I was not precise in my wording -- I should have written "modest monetary compensation." And if you have to ask what "modest" means in this context, you can't afford my services.

Steve

 

[Dr_Zinj]

A good 401(k) or Roth IRA is going to give you a far far better return on your money than a U.S. Savings Bond. Early withdrawal is going to get you dinged no matter which you use. You want to do your grand daughter a BIG favor, get her started with a retirement/investment account with a reputable company. (I've been happy with Ameriprise watching my investments, but I make adjustments semi-annually based on my opinions of what the market is doing, they're just the people I work through.)

ANY investment is better than none, and giving your kids or grand kids a head start will help them immensely down the road. It's getting started in the first place that is usually the problem. I'm trying to get my oldest boy to start an account even though he's fresh out of college and barely paying his bills. Oh man. I just had a thunk. Maybe I should start an account in his name, dump $500 in it and give it to him for a 25th Birthday present.

 

[MoKelly]

My third favorite economist of all time defined education as ... "the inculcation of the incomprehensible into the indifferent by the incompetent."

The English have a way with words.

MoKelly

 

[smstonypoint]

My third favorite economist of all time defined education as ... "the inculcation of the incomprehensible into the indifferent by the incompetent."

The English have a way with words.

MoKelly

I can guess #1, but I'm not 100% confident about that guess. Who are #s 1 & 2?

Steve

 

[MoKelly]

I can guess #1, but I'm not 100% confident about that guess. Who are #s 1 & 2?

Steve

Well, I am not perfect either but I am charitable - so, I will answer your inquiry without monetary compensation.

#1 - your avitar
#2 - Milton Friedman
#3 - Mr. Keynes

I have a Top 5 --- but, let's just keep that amystery for now.:laughing:

MoKelly

 

[smstonypoint]

Well, I am not perfect either but I am charitable - so, I will answer your inquiry without monetary compensation.

#1 - your avitar
#2 - Milton Friedman
#3 - Mr. Keynes

I have a Top 5 --- but, let's just keep that amystery for now.:laughing:

MoKelly

We share our top two picks, but then we part company. I'm a creature of the moment, so I will pick from the economists who have blogs. In no particular order, I like Steve Landsburg(Steven Landsburg | The Big Questions: Tackling the Problems of Philosophy with Ideas from Mathematics, Economics, and Physics)
Greg Mankiw (Greg Mankiw's Blog) and Don Boudreaux (Cafe Hayek).