Year-end brings a unique blend of celebration and reflection with holiday lights, school concerts, and family gatherings -- And for parents of high school students, the growing awareness that college is just around the corner.
As the year winds down, parents of high schoolers may feel excitement for the future mixed with financial worry about whether they’ve yet saved enough for college or started too late.
The truth is, preparing for college can feel quite heavy — – both emotionally and financially. As a parent, it can feel like the responsibility rests squarely on your shoulders alone. But it doesn’t have to. The year-end holiday season is one of the most natural opportunities to bring others into your savings journey.
This season of giving is the perfect time to provide loved ones with the opportunity to feel a closer connection to your child(ren)’s future – by inviting them to make a 529 plan account contribution of any amount.
Why this matters:
1. Loved ones may appreciate having a meaningful, stress-free gift suggestion.
Let’s face it. Shopping for teens isn’t easy. Trends shift overnight, preferences change frequently, and many gift givers feel uncertain about what to buy — and spend hours trying to find “just the right” gift. When you invite others to contribute to a child’s 529 account, you give them a specific and very smart option.
Most 529 plans offer simple gifting tools — digital links that allow contributions to be made in minutes. These options spare loved ones the guesswork and give them the satisfaction of providing a lasting and truly appreciated gift without hours or days of shopping – and without buyer’s remorse.
2. Your teen will receive a gift that provides a boost of confidence and endless possibilities.
When teens learn that people in their lives are investing in their education, their confidence increases. Each contribution tells them, “Your future matters, and others are here to help.”
This type of encouragement can provide motivation and a sense of relief as students are working hard inside and outside of the classroom and feeling the weight of what comes next. Contributions of any size can create a sense of being surrounded by loved ones rooting for their success.
3. You’ll feel less pressure when the load is shared.
The cost of college or other forms of career training can feel daunting, and it’s easy to slip into the mindset that preparing for it is an insurmountable task. And while loved ones may welcome the chance to lend a hand with something meaningful, many simply don’t know how.
When you provide others with an invitation to join in, the journey toward paying for college becomes less isolating and more hopeful.
4. Gifting toward education may spark meaningful conversations.
For families of high schoolers, year-end and the start of a new year are natural times to talk about goals, interests, and the road ahead. The receipt of contributions to a 529 account can prompt valuable conversations about potential majors, passions, career paths, schools of greatest interest, and financial planning.
These discussions can help teens feel more confident and clearer in their direction and help parents feel more aligned with where their child may be heading.
5. Fewer material gifts can result in less clutter — and more lasting impact.
By the time children reach high school, most families have accumulated years’ worth of holiday gifts that were loved deeply and briefly — and then, forgotten. Even the most cherished gifts can fall out of favor over time.
Shifting even a portion of holiday giving toward education can reduce clutter while building something of lasting value. A contribution to a 529 account is a gift that won’t be outgrown in size or interest – and won’t take up physical space in one’s home.
Bottom Line:
By putting 529 plan contributions on your child’s holiday wish list, you’ll be creating a priceless holiday tradition that can create a lasting connection between those giving the gift and receiving it. By recommending that friends and family ease up on material gifts and instead invest in your teen’s future, you’re providing a meaningful alternative that both your child and those who love them will thank you for.
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