Comments for Prosperity4Kids, Inc. http://prosperity4kids.com Where Money Makes Cents! Tue, 11 Oct 2011 05:48:17 -0700 hourly 1 http://wordpress.org/?v=3.3.1 Comment on How To by 7 Easy Steps to Paying Kids an Allowance | Prosperity4Kids, Inc. | Prosperity4Kids, Inc. http://prosperity4kids.com/how-to/#comment-1077 7 Easy Steps to Paying Kids an Allowance | Prosperity4Kids, Inc. | Prosperity4Kids, Inc. Tue, 11 Oct 2011 05:48:17 +0000 http://prosperity4kids.com/#comment-1077 [...] How To [...] [...] How To [...]

]]> Comment on How To by Kids and Money | Prosperity4Kids, Inc. http://prosperity4kids.com/how-to/#comment-1056 Kids and Money | Prosperity4Kids, Inc. Tue, 13 Sep 2011 18:10:26 +0000 http://prosperity4kids.com/#comment-1056 [...] How To [...] [...] How To [...]

]]> Comment on 3 Fun Ways to Teach Kids Compound Interest by moneymama http://prosperity4kids.com/2011/07/3-fun-ways-to-teach-kids-compound-interest/#comment-925 moneymama Thu, 14 Jul 2011 04:03:15 +0000 http://prosperity4kids.com/?p=877#comment-925 I asked Neil for his comment on your question also... The Vanguard 500 Index Fund has been around since 1976 and has an average annual rate of return of 10.64%. If a seven year old child needed $50,000 at age 18 for college, using that fund’s historical return, one would need to invest $206.02 each month for 11 years. You can find some excellent calculators at http://www.ehow.com/investment-calculator/. However, I would also like to stress that there are many additional issues to be considered i.e. taxes, risk tolerance etc….. Unless you have an inordinate amount of time to educate yourself I would advise finding yourself a good financial adviser. Additionally, review the available 529 college savings plans which may work well for your situation. You can go to http://www.sec.gov/investor/pubs/intro529.htm. Neil Palache, Certified Women's Money Coach™ http://www.thewealthcreatorcompany.com I asked Neil for his comment on your question also…
The Vanguard 500 Index Fund has been around since 1976 and has an average annual rate of return of 10.64%. If a seven year old child needed $50,000 at age 18 for college, using that fund’s historical return, one would need to invest $206.02 each month for 11 years. You can find some excellent calculators at http://www.ehow.com/investment-calculator/. However, I would also like to stress that there are many additional issues to be considered i.e. taxes, risk tolerance etc….. Unless you have an inordinate amount of time to educate yourself I would advise finding yourself a good financial adviser. Additionally, review the available 529 college savings plans which may work well for your situation. You can go to http://www.sec.gov/investor/pubs/intro529.htm.

Neil Palache, Certified Women’s Money Coach™
http://www.thewealthcreatorcompany.com

]]> Comment on 3 Fun Ways to Teach Kids Compound Interest by moneymama http://prosperity4kids.com/2011/07/3-fun-ways-to-teach-kids-compound-interest/#comment-923 moneymama Thu, 14 Jul 2011 02:17:11 +0000 http://prosperity4kids.com/?p=877#comment-923 Hi Joseph, thanks for your question,for clarification I'm not a FP, but I do know that Vanguard has 529 plans. I did a little checking and found out that Vanguard has a blog that has some great info, below is a snippet of the article <a href="http://www.vanguardblog.com/2011.05.27/529s-college-saving-made-simple.html" rel="nofollow">Click here to read full article</a> "If you take away nothing else, know this: starting early matters. There are plenty of calculators online to help you determine how much you need to save for college; you can check out Vanguard’s calculator. That said, no matter what number you have in your head, it probably isn’t enough. Did you know that your child’s freshman year at Harvard might cost $144,783 in 2029? To foot that bill for four years, you’ll need to set aside more than $1,400 per month from birth through age 21." Wow! she does offer more reasonable college cost. But, really $600,000.00 for 4 years??? Hi Joseph, thanks for your question,for clarification I’m not a FP, but I do know that Vanguard has 529 plans. I did a little checking and found out that
Vanguard has a blog that has some great info, below is a snippet of the article Click here to read full article

“If you take away nothing else, know this: starting early matters. There are plenty of calculators online to help you determine how much you need to save for college; you can check out Vanguard’s calculator. That said, no matter what number you have in your head, it probably isn’t enough. Did you know that your child’s freshman year at Harvard might cost $144,783 in 2029? To foot that bill for four years, you’ll need to set aside more than $1,400 per month from birth through age 21.”

Wow! she does offer more reasonable college cost. But, really $600,000.00 for 4 years???

]]> Comment on 3 Fun Ways to Teach Kids Compound Interest by Joseph Kennedy http://prosperity4kids.com/2011/07/3-fun-ways-to-teach-kids-compound-interest/#comment-909 Joseph Kennedy Wed, 13 Jul 2011 16:15:45 +0000 http://prosperity4kids.com/?p=877#comment-909 Hi Lori, Is there a goal orientated matrix? Example child 7 will need $50k at 18 for college, what would need to be invested historical Vanguard index fund per month? Thank you, Joseph Kennedy Hi Lori, Is there a goal orientated matrix? Example child 7 will need $50k at 18 for college, what would need to be invested historical Vanguard index fund per month?

Thank you,

Joseph Kennedy

]]> Comment on Investing in Your Kids is a Sure Thing! by Noe http://prosperity4kids.com/2011/06/investing-in-your-kids-is-a-sure-thing/#comment-762 Noe Tue, 21 Jun 2011 19:00:57 +0000 http://prosperity4kids.com/?p=779#comment-762 Thank you for sharing about how you and your partner learned about money and how important it is to teach our children at a very young age about our "relation$hip" to money. Our daughter turned 3 a few months ago. I've started a savings account for her when she was born. We would like to save at least a dollar per day for her. Prosperity4Kinds, Inc. has informed the way we will teach our daughter about money. Thank you. Thank you for sharing about how you and your partner learned about money and how important it is to teach our children at a very young age about our “relation$hip” to money. Our daughter turned 3 a few months ago. I’ve started a savings account for her when she was born. We would like to save at least a dollar per day for her. Prosperity4Kinds, Inc. has informed the way we will teach our daughter about money. Thank you.

]]> Comment on Investing in Your Kids is a Sure Thing! by RON http://prosperity4kids.com/2011/06/investing-in-your-kids-is-a-sure-thing/#comment-761 RON Tue, 21 Jun 2011 17:20:51 +0000 http://prosperity4kids.com/?p=779#comment-761 This is wonderful!!!! Excellent!!! This is wonderful!!!! Excellent!!!

]]> Comment on How To by Getting Your Kids to WANT to EARN…  | Prosperity 4 Kids http://prosperity4kids.com/how-to/#comment-570 Getting Your Kids to WANT to EARN…  | Prosperity 4 Kids Wed, 01 Jun 2011 18:01:20 +0000 http://prosperity4kids.com/#comment-570 [...] you must allow them to earn enough to save, invest and give using the 10/10/10/ 70 concepts. If your child is a saver this will be easy, if your child is a spender like my son. Then most [...] [...] you must allow them to earn enough to save, invest and give using the 10/10/10/ 70 concepts. If your child is a saver this will be easy, if your child is a spender like my son. Then most [...]

]]> Comment on What is Your Biggest Challenge with Kids and Money? by moneymama http://prosperity4kids.com/2011/04/what-is-your-biggest-challenge-with-kids-and-money/#comment-454 moneymama Fri, 29 Apr 2011 01:38:45 +0000 http://prosperity4kids.com/?p=707#comment-454 Hi Melba, so excited about your 4-H training classes, if you ever need anything let us know. Hi Melba, so excited about your 4-H training classes, if you ever need anything let us know.

]]> Comment on What is Your Biggest Challenge with Kids and Money? by moneymama http://prosperity4kids.com/2011/04/what-is-your-biggest-challenge-with-kids-and-money/#comment-453 moneymama Fri, 29 Apr 2011 01:35:57 +0000 http://prosperity4kids.com/?p=707#comment-453 Hi Tiffany, great question ... your challenge is one I have had myself! I'm excited to answer this for you!! This will be the topic of my next post. Thanks, Lori Hi Tiffany, great question … your challenge is one I have had myself! I’m excited to answer this for you!! This will be the topic of my next post.
Thanks, Lori

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