The Set It and Forget It Method
Kevin always wanted to give his children the opportunity to go to college.
“College can open a lot of doors you wouldn’t be able to open without a degree,” Kevin said.
However, at the time, college seemed so far away- and so expensive! He needed an easy and manageable way to set aside funds for his kids’ futures. After researching his options, Kevin found the Learning Quest 529 program. He and his wife opened 529 accounts for his daughter Addison and son Clayton shortly after they each were born. Years later, with both kids in college, he now is reaping the benefits of his early planning.
“It’s amazing. I’m going to be able to send my kids through college and they are going to come out with zero student debt,” Kevin said.
Kevin understood the value in starting to save early, even if it wasn’t much each month. Kevin opened both accounts for nearly no cost and contributed $25 per month at the beginning.
“At the time when I opened those accounts so many years ago, I could afford that. Then as life progressed, I added more on a monthly basis,” Kevin explained.
Over the years, Kevin gradually added more to his automatic withdrawals. He saw those 529 account contributions as just another monthly bill that came right out of his paycheck.
One aspect of the Learning Quest program that really sold Kevin was the adjustable portfolio for each of his kids. He put in their graduation year and Learning Quest did the rest. There was no micromanaging, but rather he set his settings and let the program run.
“This program just makes it so easy,” Kevin emphasized.
Over time, these funds grew enough to be able to put both of his kids through college.
His oldest child, Addison, is currently at K-State studying Agricultural Journalism. His youngest, Clayton, is also at K-State studying Finance. Addison and Clayton are both extremely thankful for their father’s investment. They understand that not all people have the chance to graduate debt free from college.
“It’s very rare and hard to do nowadays,” Kevin said.
Being in banking himself, Kevin often advises people to look into a 529 program when saving for college. Between the flexibility of the program, tax advantages and effectiveness of the plan, he feels confident that it could help anyone. He often tells individuals, “You’ve got time on your side. Even if you do the bare minimum each month for 18 years, you would be surprised how much will be in there. Everything counts.”