Archive for the Baby

One and Only Child

After the birth of our daughter Penny, I said I wanted at least two more babies.  My thinking was that since we had such a hard time conceiving the first time (we were even considering adoption at one point) surely the second time it would be much easier.  Unfortunately that wasn’t the case.  Last year about this time we decided we would like to try to have another baby.  I met with a new doctor who is a fertility specialist, and she devised a plan to help us get pregnant.  I went through various medications, shots, hormones, ultrasounds, etc. and no progress.  Mr. Money and I decided after me not responding to fertility treatments that maybe we were just meant to have Penny and be satisfied at that.  It took me awhile (and sometimes it’s still really hard for me to go through her baby clothes or our cloth diapers) but as of today I am satisfied with my beautiful daughter and am trying to move forward.  One of the things that helps me cope is focusing on the positive parts of […]

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529 Plans versus Savings Accounts

Shortly after Penny was born, we opened her up a savings account. Any money she receives from birthdays, holidays, grandparents, etc, we stash in her savings account. She’s got a nice little nest egg that hopefully we’ll be able to help her grow over the years. Now that we finally got our IRAs opened with Vanguard and we’ve been really happy, I’m considering opening up a 529 plan for Penny with them.  I have some hesitations, and I definitely need to do more research but it’s something that probably would be a really good idea. A 529 Plan would allow us to save money for her college education while receiving tax advantages.  The downside is if she decides not to go to college we’d be subject to income tax plus a 10% penalty.  Ouch. One of the biggest concerns I have about opening a 529 plan is if Penny decides college is not for her and the money will be taxed and penalized.  Of course we would love for Penny to attend college and become something she would love, but […]

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