529 college savings plan

In today's episode, I want to talk about how to save money for your kids in a smart way. I have three kids and I've been saving for them so they don't have to worry about money for school or other big things in the future. I use special savings accounts like 529s for college, Roth IRAs for retirement, and custodial brokerage accounts where they can pick stocks. It's important for you to save for yourself first before saving for your kids. I want to help you understand these accounts and how to use them, so you can make sure your kids have a good start in life.

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This just in: college is freaking expensive! But pursuing any kind of education after high school – whether a bachelor’s degree, associate’s, or trade certification – can make a huge difference in your career. In this special episode of “Grown-Up Stuff: How to Adult,” sponsored by EdVest of Wisconsin and the Michigan Education Savings Program, Matt and Molly speak with college savings experts Robin Lott and Jackie James about the best ways to save and pay for higher education as a parent or student. (Spoiler alert: start saving now.) If you have children – or plan on it down the road – it’s never too early or too late to start saving for college. 

Learn about the best student loan options, how often you can reapply for financial aid, and the many benefits to opening a 529 college savings plan. 

Sources Cited: 

• National Center for Education Statistics
• “A Look at College Tuition Growth Over 20 Years” - US News & World Report
• Federal Student Aid Data for the Free Application for Federal Student Aid (FAFSA) forms

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