Can I open a college savings account for my future children?

Question

My husband and I aren't planning on having kids for another few years or so, but we'd like to start a college savings fund as soon as possible so that they have the maximum amount of time to grow. Can we do this, or do we have to wait until they are born?

Answer 1

I am pretty sure you can do it now.

Answer 2

If you don't have children why are you providing for their future? Case in Point!! As soon as we were making enough money beyond our normal living expenses, we started to save and as the savings grew, we started to invest. When we did have children who reached college age we had the funds in investments to pay for college. At the same time our earnings were enough that we didn't have to dip into the investments for college tuitions. What originally was put aside for college for three sons now became our retirement account. A fortunate investment or two enhanced that account so that we are able to make some worthy gifts at Xmas, contribute a bit for their individual home purchases, and enjoy the good life.

Answer 3

i think u can but be careful, my mom is a life insurance agent and they do analyzing of insurances that people currently have and they also find out that a lot of places lie to their customers and tell them theyre going to open a college savings account for their children but then years later they find out that they actually gave their children life insurance (or something like that) instead of a college account.  so make sure u know who and where you're going to when opening a college fund for your future children. Good luck