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i don't think our new Foolish comrade has gained any value from the last two comments. Im no expert, (weasle worded disclaimer) but I'd say if you have 5 or more years to hold, that stocks are definitely the way to go. Im looking for the same answers myself, with a 2 and a 4 year old. I've been weighing off the benefits of using a Roth IRA vs. Education IRA vs. custodial account vs. las vegas. The problem Im having with education iras is that i want to choose my own individual stocks, so i'd like a dirt cheap commission structure (like $7 or so) for stock purchases. The problem is that the deeply discounted online brokers like Ameritrade and Scottrade dont offer Ed IRAs. Etrade does, but at 14.95 a trade, even if you make one purchase a year for your 500. limit in the the Ed IRA per year, you've already paid almost 3% in commissions. Another option is the Roth IRA, here's a link that talks about the benefits of that avenue
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