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Education
Home›Education›The gift of education: Getting friends and family to contribute to your kid’s 529 account is ‘pretty darn cool’

The gift of education: Getting friends and family to contribute to your kid’s 529 account is ‘pretty darn cool’

By Matthew Lynch
August 29, 2024
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Imagine giving your child a gift that grows over time, opens doors to opportunities, and shapes their future. That’s the power of education, and it’s a gift you can start giving today with a little help from your loved ones.

The Magic of 529 Accounts

Enter the world of 529 accounts – a tax-advantaged savings plan designed specifically for education expenses. But here’s where it gets really exciting: friends and family can contribute too!

The Joy of Collective Saving

There’s something incredibly heartwarming about seeing your child’s education fund grow through the generosity of those who care. It’s not just about the money; it’s about creating a community of support around your child’s future. As one parent put it, “Watching our daughter’s 529 account grow with contributions from grandparents, aunts, and even close friends is pretty darn cool.”

Making it Easy for Loved Ones to Contribute

1.Spread the word: Let friends and family know about your 529 account and how they can contribute.

2.Special occasions: Suggest contributions in lieu of traditional gifts for birthdays and holidays.

3.Online gifting platforms: Many 529 plans offer easy-to-use online platforms for gifting.

A Gift That Keeps on Giving

Every contribution, no matter how small, is an investment in your child’s future. It’s not just about dollars and cents; it’s about showing your child how much they are loved and supported. Years from now, when your child walks across that college stage, they’ll carry with them the collective dreams and support of everyone who contributed to their journey.

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