Ok, I have two questions. The first:

Has ING already gone back down to a 3% interest rate? I could have sworn it was up at 3.25% just a while ago. I just checked and emigrant is still quoting the 3.25% interest. Is ING better than emigrant in other ways...or are they comparable. I would like to go with the one with the BEST benefits/interest rate...but everyone seems to rave about ING, and I barely hear anything about Emigrant.

Also, my other question:

Are Upromise and BabyMint comparable. Is one better than the other? We got an offer in the mail from BabyMint, and I applied (my fi) for it. But if UPromise is *better* we can always try to get that one to start saving a little for Olivia's college (and other children). We don't plan on COMPLETELY financing college, but would like to save some to help with the costs.

Thanks for any help.

I have an ING account at 3%. I've heard of Emigrant... but I stick with ING mainly because they have had a consistently high rate over the life of my account. I don't have the same confidence with Emigrant, only because I just recently heard of them.

One post I read in the past mentioned it might not make sense to transfer money from ING to Emigrant for the 1/4 pt. difference, but you could get an account with both. Then when it's time to transfer, send your money to the one that is currently highest.

That's too much trouble for me though. I'm sticking with ING because I set up the xfers and forget about it. Their site works great and I have no complaints about the rate.

-LB

I've had problems with Emigrant. IMO, unless you have 10's of thousands of dollars to put in there, that extra quarter percent isn't going to amount to diddly squat, especially since you have to claim the interest as income for your taxes. Search my name for previous Emigrant posts.

OK, thanks, I think we'll just go with ING. But don't you still have to pay taxes on that or how does THAT work? We most likely won't have that much for a while. I'm going to open the account with $900-1000, and will be putting money in every paycheck, bu I can't see it getting *huge* for a long time to come, you know what I mean?


Anyone have any advice on the BabyMint vs. UPromise?? Is UPromise even linked to a 529 Plan like BabyMint? Anyone got any details? I would appreciate it! Thanks

2 answers.

Upromise vs. BabyMint? Neither. Both are a total joke... spend a zillion bux with us, and we will buy your kid a Big Mac and an order of fries his freshman year of college.

ING. Definitely.

If this is a long term (over 3 years) investment, put the money in a mutual fund.

ING has not gone down...since Feb it has climbed from 2.6 to 3.0!!!!

you must not be checking your account to often

UPromise and BabyMint both allow you to withdraw the money. Which is what we will do. Withdraw once it gets to $100 increments and place in the baby's bank account and transfer to ING account.

I don't have an account..I remember someone on another board saying that ING was supposed to go up to 3.25% to match emigrants...that's why I thought it was supposed to be 3.25% and got confused..

And thanks y'all for the info on UPromise vs. Emigrant as well.