College Savings Account Will Benefit Your Kid's Development, Says Study"What do you mean I have to wait until after my baby's born before I can open up a savings account for him?!" asked an impatient 40+ week pregnant me to an unsuspecting bank teller.
"You'll need a social security number to establish an account, ma'am, and your baby won't be issued a number until after he was born."
Hurumph! Didn't these bank people know how busy I'd be after this baby was born? I had baby shower money from the grandparents to deposit!
While my desire to start saving for my baby prior to his delivery might sound a little nutty, science might just have my back on this one.
A new study published by JAMA Pediatrics suggests that kids who grow up with college savings accounts reap developmental advantages.
In a study of 2,704 infant participants, half were provided with state-issued Child Development Accounts (CDAs), additional financial incentives, and information - while the other half were not.
Four years later, the mothersRead More »from College Savings Account Will Benefit Your Kid’s Development, Says Study