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It can be difficult to know how and when you should start saving for your child’s future. You may not want to limit how the money can eventually be used, but you still want the funds to grow and be invested wisely. According to a study by Sallie Mae, nearly two-thirds of American’s use a savings account to set aside money for their children as it provides flexibility for their savings plan. * FORUM’s Sprout Account is the perfect place to watch your child’s savings grow for whatever the need.
This account can be opened at any time from birth to age 18 and funds are available when your child turns 18. There is no minimum deposit required to open the account and contributions can be made by anyone at any time. Plus, the account earns a competitive dividend rate and FORUM will match 10% of deposited funds per calendar year based on various tier levels. **
You want your child to have opportunities beyond just education. What if they get a scholarship, what if they don't plan on attending college, or what if they want to take a year off? This account allows your child’s savings to grow while also giving your child flexibility to use the money on more than just education. This could be anything from purchasing a car to an eventual down payment on a home. The options are endless.
For more information or to open a FORUM Sprout Account today, click here.
** Maximum match $100.
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