The holidays are here! Between baking cookies, putting up decorations, and seeing how excited our kids become during the month of December, it’s easy to believe that this is the most wonderful time of the year.
One thing we also do is purchase gifts for our children. But there is no toy, gadget, or article of clothing that can compare to the gift of preparing for our kids’ futures.
And when it comes to college, being ready starts way before they even set foot on campus by putting away some money for their futures. Luckily, it’s a very easy process by setting up a 529 investment plan.
What is a 529 investment plan, you ask? Basically it’s a tax-advantaged savings plan that you can set up for your kiddos to use for future college costs, such as tuition, books, and school supplies. Another wonderful feature is the earnings grow tax-free.
Yes, when we look at college tuition prices it’s normal to get a little nervous, but saving for college is actually pretty easy. For example, I opened a ScholarShare 529 account for my daughters for just $50 in total (with ScholarShare, it only takes $25 to open an account!). Think about it — your kids may become bored with the $25 toys you buy them after a week, but an investment in their futures will be more valuable to you and your children in the future. Best of all, it only takes about 15 minutes of time to set up. It’s absolutely worth it if you ask me.
The best part is ScholarShare is offering up its own gifts during the holiday season.
On Friday, Dec. 9, 2016, California families who open a new ScholarShare 529 college savings account with $50 can receive a matching initial deposit of $50 from ScholarShare. To be eligible for the matching promotion, California families will need to open a new ScholarShare College Savings Plan account with at least $50 – to be contributed and invested at the time the new account is opened – and enroll in the automatic contribution plan for the new account with at least a $25 per month contribution. More details around the terms and conditions can be found at www.ScholarShare.com/holidaymatch.
Secondly, Treasurer John Chiang also recently announced that his office has become the first in the nation to offer ScholarShare gift cards to help California families pay for college. With the new ScholarShare college savings gift card, friends and family can help their loved one pay for college and contribute to the college savings account, whether for holidays or birthdays. Physical or digital gift cards are available at California-based Toys “R” Us or Babies “R” Us retail stores or online at www.ScholarShare.com. It would make the perfect stocking stuffer.
As a dad, I know that the best gift I can give my daughters is the gift of preparing for their futures. I hope you’ll use some of your holiday shopping money to do the same by opening a 529 account with ScholarShare.