#WhyI529 March Spotlight:
Planning for the future
Jaimi Hermanson of Olathe, Kan., shares her story:
When did you start saving?
As soon as my son, Pierce, was born. My husband’s aunt and uncle gave us the most thoughtful gift. They set up a Learning Quest account for Pierce and made the initial contribution toward his college savings. Then, they transferred the account to us to manage. Honestly, I don’t think we would have initiated the process so early on. Through their generosity and insight, we were able to start saving right away. This big head start is so valuable because, over time, it all adds up.
What do you like best about the plan?
How easy it is for our family and friends to contribute to Pierce's college savings fund. I simply share the Ugift link and a code via social media. It's more meaningful than another toy and it's really simple for people to do...a few clicks and they've sent a valuable gift.
How does it make a difference?
Having a 529 account in place gives us a clear plan for Pierce's future and our own. By planning for his college education now, we hopefully won't have to scramble to find the funds later. In doing so, we hope to protect our retirement and savings. It certainly will help ease the financial pressure when the time comes for Pierce to pursue college. We want him to be able to focus on learning and not be paying off student loans, as we are still doing right now.
We were so touched to receive the gift of a 529 Plan. It's was so unexpected and unique. The fact that our family took the time to think about Pierce's future when he was just a newborn is pretty special. We are grateful and know Pierce will appreciate it, too, some day!