I am trying to put some money aside for my children’s college tuition. I am looking for some financial plan associated with some bank or insurace company or some other related financial institude. Since my first child is turning 4 next month, I’d better start now in order not to encounter big financial burden.

If anyone has better way to save for children’s colledge tuition, please share your idea or experience.

Thanks

Great idea!
Do a search on 529 college savings plan. Many states offer such tuition savings plan, and in California, it is known as California 529 Plan.
Basic idea is to set aside fixed amount until your child is ready for college, and for savings over 17 years, hopefully it will be enough to cover state university tuition. This savings is tax free (federal and state).

Another idea is to give up to $10,000 a year per child as tax free gift and put it away in custodial account.

Thanks a lot.