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I know of many ways to save or invest in a child’s education, but I would suggest that you first consider the registered savings accounts. They come with multiple tax-benefits and grants that can increase your savings. Read this article to learn more about these options.Some of the popular registered savings accounts are RESPs for Canadian parents and 529 Savings Plans for American parents. With any of these investment options, you can save a significant amount of money to pay for your child’s college or university education.Here are the best ways to save and invest in your child’s education.1. Creating Registered Education Savings Plan (RESP)If you are a Canadian parent, opening an RESP account would be the best way to invest in your child's future education. It is a government-sponsored savings account that helps Canadian parents to save for their kid’s post-secondary education.Why You Should Open an RESP Account If You’re a Canadian ParentYou’ll be contributing periodically into an RESP account. The government will award your child a 20 percent grant of every contribution you make up to CA$2,500 per year. In other words, you get entitled to a maximum grant of CA$500 every year.Every individual with an RESP account is eligible for the Canada Education Savings Grant (CESG). If your family’s income is low (CA$45,282 or less), you can an additional grant of 20 percent of your first CA$500 contribution (CA$100).Besides getting the government grants, your investments will grow tax-free for the entire period of savings. The capital gains on your investment will also be non-taxable. Heritage Education Funds is one of the best RESP providers in Canada.2. Investing in the 529 Savings PlanNamed after the IRS section authorizing college savings, the 529 plan is the most convenient education savings plan for parents living in the United States. It's exclusively for college savings and related educational expenses.Contributions towards 529 college savings plans are non-taxable, giving American parents a tax break. Independent mutual funds companies manage the contributions. Return on investments may, therefore, vary depending on investment selections.Other Ways to Invest in Your Child’s Future EducationBesides opening an RESP account or 529 college savings plan, the following savings or investment options can also increase savings for the child’s education.Opening a traditional or non-registered savings accountSetting up a trust account, specifically to finance your child’s educationSaving in a tax-free savings account to take advantage of its tax benefitsIn conclusion, Saving or investing for your child’s education is the best way to give them a better future. To take full advantage of the registered savings accounts, you should start saving as early as now. Automate contributions by authorizing direct deposits into the savings accounts.Try to minimize the unnecessary expenses that might reduce your savings. You can also request friends and other family members to help in contributing. Finally, if you have stuff you no longer use, sell them to get more funds to save.

i have got two theories1- Minimum balance charges – Lien marking in the Accounts.2- Once a valid lien is placed on a bank account, it is frozen. The bank is not allowed to let any money out of that account. This means that any checks written on the account that are still outstanding are going to bounce. In most states, the lien is just the first step of the process. The bank probably has to hold the money there for some period of time without giving any to the owner or to the lienholder. This period of time is given to allow the owner to go to court to explain why the money should not be turned over to the lienholder. If the owner goes to court and the court does not agree with those reasons, the bank will be authorized to give the lienholder the money. Also, if you ignore this time period, then the bank wwill turn the money over to the lienholder when the time period expires. You should also be aware that in most states, a lien will put a hold only on the money that is in the account at the time the lien is given to the bank. This means that deposits made after the lien has been filed (such as direct deposits or deposits made without knowing about the lien) may be given to the owner. They are not subject to the lien. And don't let banks tell you any different. You would be shocked at how stupid some banks are about this. Check your state's laws to be sure yours is like this.

I’m going to offer a different perspective. I lived in China for 8 years. I married a Chinese woman. We currently live in the US.To clarify, I am assuming the question means to live a ‘normal’ life (as a westerner would understand that concept).You can live in China and hang out if you marry a Chinese person, but you cannot work without a Z-visa (which actually converts to a residency permit upon entry). You cannot work on a marriage visa.Foreigners have to register with the local PD after they find housing.After the age of 65 you will not be able to find work. Most contracts for foreign workers limit age to 55–65. Some are as a low as 45. So you need to have some kind of outside income.I have known people who worked in Asia for many years, but never worked 40 quarters (10 years) in the USA, making contributions to Social Security and Medicare. Then when their health turned or they were deemed too old to get a work visa, upon returning to the US they discovered that they were not vested in SS or Medicare….Those people were deeply, permanently screwed.The best way to live in China would be to get enough contributions to SS & Medicare first, then go to China on a work or Business visa, find someone you’d like to marry (and that person would marry you even if you told them you were planning to stay in China, NOT go back to the USA) - and once you qualified, start taking your Social Security income as a direct deposit into a US bank account, which you could then access while in China.Even so, you would have to apply every year to renew your marriage visa.The food is great and pretty healthy - and in the 2nd or 3rd tier cities, the COL is not so bad. In the countryside, your SS check might make you slightly “rich” - in Beijing, Shanghai, Guangzhou, or other 1st tier cities, it won’t pay for your apartment rent.There are certain ways to get around some of the restrictions you will find as a foreigner living in China, but it takes time to figure that out.Medical & dental - quite good in 1st tier cities. In the countryside? 1950’s era dentisty - with the drills to prove it. Your Medicare will only work in a handful of 1st tier city hospitals. Otherwise, bring cash. You’ll pay in advance, even before surgery.Socially, it would be different for most westerners. There are maybe 2 English-speaking cable TV stations, originating in Hong Kong. Increasingly, bookstores in 1st tier cities have books written by English-speaking authors - but the selection is limited. Other westerners you meet, fellow-travelers if you like - are not always that likable. Lots of alcoholics and social misfits working in China. In the countryside, you will always be a curiosity. Children will sometimes shrink from you, crying in fear. The bigger cities are better, but then again, that annoying COL problem returns.Studying Mandarin (putonghua) before you go helps. But there are 680 dialects spoken in China, and unless your putonghua is spot-on for pronunciation, no one will understand a word you say. If you end up in Guangdong Pr., they mainly speak Cantonese (Guangdonghua) - so if you show up there, you’d better be a fast learner.There are other things. Toilets rarely have any paper, so you learn to carry some at all times. In China it’s a little packet roughly 2″ x 3″ x 1/2″ of little Kleenex's - and the toilets may be the squat down type (the sitting type like westerns are used to mainly in the bigger cities). I could go on….Like all places, China is changing quickly. The internet is more tightly restricted now than it was when I was there. On the other hand, trains are faster, buses cleaner, and some of the “Wild West” flavor of China as it transitioned to ‘authoritarian capitalism’ are gone. If your papers are bogus, today it is more likely someone will spot that. If you went a “looser” version of Asia, Thailand remains your best bet.Can you live in China? Most westerners I have known washed out, barely hanging on to finish out a year’s contract for teaching. Others liked it more and stayed longer. Foreign business people getting paid by their company, living downtown in first tier cities saved a lot of money and became rich. A few people I knew tried to find ways to stay forever, but it is unclear whether they made it or not. A Chinese green card exists, but it is almost impossible to get one.Now you know more, so… is it possible?