Last year my family and I spent a wonderful day at a boat show and boy did I fall in love with the idea of getting a boat. When the weather gets warmer and we are spending more time at the beach it seems like the perfect time to get one. Prices of boats and gas are down and you can finance it over 20 years. Then reality hit I was overruled by my CEO!

Let me give you a brief description of my CEO, she is 2 years old, under 3 feet and weighs 25lbs. She has decided that she would rather have a swing set and so there goes my boat. She also has overruled me and my wife on what TV shows we watch and if we get to sleep through the night. I have a strange feeling that a lot of my readers have their own CEO at home if not 2 or 3.

We can spend all our time researching the right way to invest for the needs of our family but when that little one smiles at you and asks for something they usually get it. I want to bring the perspective of a real family making real decisions to get through this crazy economy. Hope to hear for you all and your stories.

1. Pay yourself first
Saving for your own retirement is more important than saving for college. Your children will have ways to raise money for college other then from you as for your retirement you only have yourself.
2. Start Early
Even small savings can add up if you give them enough time to grow. Investing just $100 a month for 18 years will yield $48,000, assuming an 8% average annual return.
3. Stocks are best for your college savings portfolio
Tuition costs rising faster than inflation, a portfolio leaning toward stocks is the best way to build savings in the long term. As the time to use this money approaches you can shift the portfolio towards more bonds and cash.
4. You dont have to save the whole amount of tuition
There are federal, state, and private grants and loans that help make up the rest.
5. With mutual funds, investing for college is simple
Investing in mutual funds puts a professional in charge of your savings so that you don't have to watch the markets daily.
6. Tax break benefits
There is a wide range of benefits from the Hope Credit and Lifetime Learning Credit or if your income is too high to qualify for those credits, you may qualify for a higher education expense deduction that will be in effect through 2009 and is extended periodically.