’Tis the season to update your automatic my529 contributions

Are you currently selecting your benefits and retirement enrollments for next year? Use this opportunity to check on your my529 educational savings accounts. You can sign up for scheduled contributions to automatically invest in your my529 account on a monthly or semimonthly basis. You may also have the opportunity to enroll in a payroll direct deposit through your employer, so check with your human resources department about making automatic contributions from your after-tax income.

If you received a cost-of-living adjustment, raise, or bonus, consider increasing your contributions to accelerate the momentum toward your savings goals, without having to adjust your existing budget. Our College Savings Estimator tool is a great place to start if you aren’t sure how much to set aside for your anticipated higher education costs.

Did you know that you can also schedule annual contributions to celebrate occasions that happen yearly? Ensure that you never forget those gift contributions at birthdays or during the busy holiday seasons by scheduling them now for a recurring annual deposit. That way, when it is the season to relax and reconnect, you will have one less thing to think about. Your future self will thank you for getting some to-dos checked off early and saving yourself time for years to come!