What is the best kind of savings account to get?

December 4, 2008 by · 4 Comments
Filed under: Blog 

I want to open a savings account for my kids. To know there is always alittle something off to the side there for them. What is the best kind to get?

ING Direct is good.

You can get a Coverdell Education Savings Account for tax free education gains for your kids also. I use Scottrade for that, and now my kids have lots of money for college.

I started my their Coverdell ERA with just $20 and just put a little in each week. It adds up fast. I have them invested in mutual funds such as UMREX which has been gaining about 20% per year. That is a real estate fund with no loads and no transaction fees at Scottrade.

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