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<blockquote data-quote="zoggle101" data-source="post: 907708" data-attributes="member: 5436"><p>We just started a money market account for our 1 y.o. son. Is this the best way to save money for him when he gets older? We put 1200 in to start and each of us puts $25 a paycheck. I get four checks a month and my wife gets two. What type of potential earnings should be expected at this rate?</p><p></p><p>Also, my wife worked 8 years for University of IL Springfield and has a pension with them that she isn't still investing in. I expect there is no growth when you do something like this without continuing to invest. She told me it isn't possible to keep investing, is this right? Should we take that money out and invest it in something different? She's been at her current job for 3 years, and has now been putting into a deferred comp option, her pension(she's a state worker and who knows how this will turnout), and we are trying to do a savings account on top of our checkings. Should we consolidate all of these investments, and try something with a higher return?</p><p></p><p>Any advice is well appreciated.</p></blockquote><p></p>
[QUOTE="zoggle101, post: 907708, member: 5436"] We just started a money market account for our 1 y.o. son. Is this the best way to save money for him when he gets older? We put 1200 in to start and each of us puts $25 a paycheck. I get four checks a month and my wife gets two. What type of potential earnings should be expected at this rate? Also, my wife worked 8 years for University of IL Springfield and has a pension with them that she isn't still investing in. I expect there is no growth when you do something like this without continuing to invest. She told me it isn't possible to keep investing, is this right? Should we take that money out and invest it in something different? She's been at her current job for 3 years, and has now been putting into a deferred comp option, her pension(she's a state worker and who knows how this will turnout), and we are trying to do a savings account on top of our checkings. Should we consolidate all of these investments, and try something with a higher return? Any advice is well appreciated. [/QUOTE]
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