Having a baby? Go to class!

[exNavyOffRec]

Make sure they follow the NATOPS procedures for seat strap-in.

A friend has car seats with NACES style harness straps. She was also involved in a PMV mishap at age 9, and her seat with proper harness was a survival factor. It was kind of funny when she got her seat quals, and already knew how to strap-in properly.

She now has two daughters who love their seats with NACES style harness. As a new parent, she passed her NATOPS check rides and is now a NATOPS instructor

The car seats are very important, my wife was hit head on by a guy that crossed the center-line when she had all 3 kids in the car, both cars totaled, all kids strapped in properly none injured.

 

[Randy Daytona]

Was thinking of setting up a Roth IRA now for my daughter with a low cost, low maintenance index fund. Any recommendations?

 

[ChuckM]

Don't think you can invest for your child using a Roth until they have demonstrable income.

It's a great idea once they are of earning age to match their earnings with an allowance and contribute %100 of what they make tax free (assuming they don't make more than $5800, or the standard deduction) and being tax free upon withdrawal. It's a tax dodge on ~6-8 years worth of max contributions assuming the get a job at 15-16 and have one through college while you claim them as a dependent. They pay their Roth, you pay them. Imagine the time value of money from 16-65...

You can always set up a 529, which is like a Roth, but for qualified education expenses. Some people love them, some hate them.

 

[Pags]

Only problem with a 529 is that it pigeonholes your money.

 

[ChuckM]

Only problem with a 529 is that it pigeonholes your money.

This.

The qualified educational expenses definition ebbs and flows with the Government. Personally I have about a years worth of funds in there for the five year old and have drastically rolled back contributions to about $50 a month. Also, the money can be used for anyone in the family, not just the kids. (the Mrs. or yourself.)

In my mind it's there for supplemental use, or to cover a bad year (like when the in-laws were caught up in the middle of the Northwest (or maybe it was Delta) bankruptcy and wages were slashed.) Things got tight for them real fast....

 

[Randy Daytona]

Don't think you can invest for your child using a Roth until they have demonstrable income.

It's a great idea once they are of earning age to match their earnings with an allowance and contribute %100 of what they make tax free (assuming they don't make more than $5800, or the standard deduction) and being tax free upon withdrawal. It's a tax dodge on ~6-8 years worth of max contributions assuming the get a job at 15-16 and have one through college while you claim them as a dependent. They pay their Roth, you pay them. Imagine the time value of money from 16-65...

You can always set up a 529, which is like a Roth, but for qualified education expenses. Some people love them, some hate them.

Thank you for the heads up - now looking for another way of putting aside some cash for her. After watching "The Retirement Gamble" on PBS Frontline, am trying to go with a company that has as few fees as possible - heard that Vanguard is very good. Any thoughts? http://www.pbs.org/wgbh/frontline/film/retirement-gamble/

As you mentioned, having some extra funds set aside is a good idea. Friend of mine was a victim of identity theft and his bank accounts drained. While waiting for everything to be cleared up, he had to come up with cash for mortgages, auto payments, etc. His solution, of which I agree and adopted, was to set up a savings account with a different bank and never touch it - but to have a couple of months of ready cash standing by for an emergency. Spreadload your risk... Another solution is to have my credit completely locked down by Experian, so that I have to unlock it to do any type of credit check or anything else. This has worked - got a letter from Sears saying they were sorry but could not open a credit card in my name because they could not run a credit check - and I have never applied there.

 

[Randy Daytona]

Returned from a vacation, stayed at the Great Wolf Lodge of which there are quite a few nationwide. If you have children, it is highly recommended.

https://www.greatwolf.com/

 

[exNavyOffRec]

Returned from a vacation, stayed at the Great Wolf Lodge of which there are quite a few nationwide. If you have children, it is highly recommended.

https://www.greatwolf.com/

That place is lots of fun, as a parent I like the number of lifeguards they have and how they continually scan the water areas, granted they do that because if something bad were to happen they would have their ass sued for everything under the sun, but the way they do business makes me feel better.

 

[Flash]

Returned from a vacation, stayed at the Great Wolf Lodge of which there are quite a few nationwide. If you have children, it is highly recommended.

Water park was nice but the rooms...meh, and overpriced.

 

[Randy Daytona]

Water park was nice but the rooms...meh, and overpriced.

I agree, the rooms are average - it is not the Ritz. Then again, the Ritz does not have a waterpark. In the end, the only thing that matters is did the wife and daughter have a good time? Yes they did. (The price can be high or reasonable - lot depends on timing there I hear.)

That place is lots of fun, as a parent I like the number of lifeguards they have and how they continually scan the water areas, granted they do that because if something bad were to happen they would have their ass sued for everything under the sun, but the way they do business makes me feel better.

Good point - staff was numerous everywhere.