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<blockquote data-quote="williamsb27" data-source="post: 91607" data-attributes="member: 8"><p>Ok first off I know a lot of people will have their own opinions on my views, which I consider, but this is just my way of thinking.</p><p> </p><p>First off, yesterday I started a Variable CD account for my "future" son's motocross career. Yes I know all of the "don't force your kid into motocross" point of views, which is not what I plan. I plan to get a starter bike, go to the track and who wouldn't like motocross? <img src="https://www.dirtbikeaddicts.com/static/images/smilies/noidea.gif" class="smilie" loading="lazy" alt=":noidea:" title="Noidea :noidea:" data-shortname=":noidea:" /> Now I don't "plan" to have a child til I'm around 26, which is 6 years from now, and probably wouldn't use this money until 8 or 9 years from now. I want to start saving money now into an account that has more of a higher interest rate than a regular savings account. The Variable CD I started yesterday has an accrual rate of 0.71%, which obviously varies.</p><p> </p><p>So now that you have the basic concept of what I'm going for, what type of account do you think is the best? I know I could speak with the representatives at my bank, but for now I'd like some input from you guys.</p><p> </p><p>Also I know life doesn't go as planned, especially with birth, but I can always turn around and use this money for other things. A win-win situation if you think about it.<img src="https://www.dirtbikeaddicts.com/static/images/smilies/thumb.gif" class="smilie" loading="lazy" alt=":thumb:" title="Thumb :thumb:" data-shortname=":thumb:" /></p></blockquote><p></p>
[QUOTE="williamsb27, post: 91607, member: 8"] Ok first off I know a lot of people will have their own opinions on my views, which I consider, but this is just my way of thinking. First off, yesterday I started a Variable CD account for my "future" son's motocross career. Yes I know all of the "don't force your kid into motocross" point of views, which is not what I plan. I plan to get a starter bike, go to the track and who wouldn't like motocross? :noidea: Now I don't "plan" to have a child til I'm around 26, which is 6 years from now, and probably wouldn't use this money until 8 or 9 years from now. I want to start saving money now into an account that has more of a higher interest rate than a regular savings account. The Variable CD I started yesterday has an accrual rate of 0.71%, which obviously varies. So now that you have the basic concept of what I'm going for, what type of account do you think is the best? I know I could speak with the representatives at my bank, but for now I'd like some input from you guys. Also I know life doesn't go as planned, especially with birth, but I can always turn around and use this money for other things. A win-win situation if you think about it.:thumb: [/QUOTE]
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