Five things to know about the 529 Ten Dollar Challenge

Small contributions to education savings accounts can add up over time

Several years ago, I read an article1 that detailed what you can do with $10 around the world. The author challenged her fellow reporters across the globe to see how far $10 could take them. From two sub sandwiches in Connecticut to two days of groceries in the Philippines, the answers varied widely depending on each reporter’s location.

That interesting perspective stuck with me over the years, so when I caught wind of another $10 challenge, I was all ears. Aptly named the 529 Ten Dollar Challenge, this initiative was created to raise awareness of one of my favorite topics — 529 plans — by showing that even small contributions to education savings accounts can add up over time. Education savers are currently participating by posting photos of themselves with $10 bills to social media and using the #529TenDollarChallenge hashtag.

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Should you save or spend your tax refund?

This tax season, consider putting your refund toward a 529 plan

Time to read: 2 min

Tax season is upon us, and if there’s one upside to all that paperwork, it’s the prospect of receiving a tax refund.

According to the IRS, the average tax refund in 2018 was $2,899.1 Many consumers view this “extra” money as a kind of windfall, or unexpected gift. However, a tax refund is called that for a reason; after all, it represents money that was overpaid to the government. In reality, it’s simply a return of the interest-free loan you effectively granted the government the previous year.

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A 529 plan can help you keep your college savings resolution

Turn your savings resolution into an achievable goal with a 529 college savings plan

Time to read: 2 min

According to US News & World Report, 80% of New Year’s resolutions fail by February.1 The problem? Many people set overly ambitious resolutions with no tangible action plan to reach their desired goals — and as the old saying goes, “A goal without a plan is just a wish.”

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This season’s perfect gift idea? A 529 plan contribution.

This holiday season, give the lifelong gift of education

Time to read: 2 minutes

My wife and I have always given holiday gifts to our nieces and nephews. As each child grew older, we did our best to tailor the presents to their individual personalities; we’d choose books and CDs for one child, and jewelry and gift cards for another. But keeping up with the trends wasn’t easy, and finding the perfect present for each child soon turned into a shopping nightmare each December — until we realized the perfect gift idea was right under our noses.

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Give thanks for college savings

There are many things to be thankful for this time of year, including the gift of college savings

Time to read: 2 minutes

As the father of three college graduates, I know firsthand how exciting it is when students return home from school for Thanksgiving break — and not just for the parents. For many students, Thanksgiving break is their first trip back home since the school year started, making that long-awaited family reunion especially sweet.

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