Pick your my529 savings strategies

For parents with young children, thinking about higher education much beyond opening a my529 account may feel daunting. After all, your focus might be on setting your kids up for success with learning letters and numbers — less so the path after high school.

However, why not make these formative years a time to plan for tomorrow as well as today? Consider a few strategies to optimize your savings efforts.

Start as early as you can

The earlier families begin investing for higher education, the more time the investment has the potential to grow.

Save small amounts regularly

Some parents might think the expenses of childhood might prevent saving for higher education, but whether the contribution is a little or a lot, even a few dollars toward your my529 account on a consistent basis can make a difference over time.

Automate your efforts

Make saving even easier by setting up automatic contributions. This way, you can rest assured that money will continue to fund your account regularly over the years.

Get the kids involved

Teach savings principles to children as they contribute to their my529 account. When they earn an allowance or receive a monetary gift, have them earmark some of the money toward their account.

Gifts support goals

You can invite family and friends to contribute to a child’s my529 account. They can add a meaningful gift toward your child’s future higher education goals — without setting foot inside a crowded store. Learn more at gift.my529.org.

Celebrate with contributions

No matter the event, include a contribution to your beneficiary’s my529 account to mark the occasion, too. You can even request that family and friends to chip in for your child’s future by gifting a contribution of their own to your beneficiary’s account.