If you had told me thirty years ago, I’d be the State Treasurer of Iowa while my wife Kari and I were simultaneously sending two kids off to college, I would have laughed at you. Today, that’s the case for us, and I’m thankful we thought ahead by establishing 529 accounts for our kids. Even though setting them up didn’t answer the question of what my kids were going to do in the future, it gave my wife and me peace of mind knowing they had the option of chasing their dreams, just like we did when we were young adults.
Saving for a child’s future education is one of the most powerful and often underestimated acts of care a parent, guardian or grandparent can take. In a world where the cost of education continues to rise, early and consistent saving has become a necessity that can shape the trajectory of a child’s future. On this May 29, also known as 529 Day, I’m highlighting 529 plans and the impact they’ve had for securing the future of my children and how they can impact a child in your life.
As my kids got older, I watched their accounts grow. The milestones like first steps, first day of preschool and first football or volleyball practice all coincided with consistent deposits to our 529 plans. These consistent deposits led to conversations with my kids about saving money and ultimately showed them a lesson on the power of time and compounding growth. Even modest, regular contributions of $25 per paycheck can grow significantly over 10 or 15 years. Together we learned a 529 plan is more than just education savings – it taught my children the value of planning ahead and financial responsibility.
529 plans also create a natural bridge between dreaming about your child’s future and preparing for it in a practical way. What starts as an emotional commitment begins to take shape through consistent action. Over time, that discipline reinforces both confidence and clarity, making the transition from long-term hope to real-world readiness feel much more seamless.
So, you’re probably asking, where do I start? Saving for a child’s future doesn’t have to be overwhelming. There are a variety of 529 accounts designed specifically to help families set aside money in a structured and tax-advantaged way. The key is simply getting started, and the College Savings Plan Network is here to help. So, what are you waiting for? Open the door to a 529 plan by visiting collegesavings.org to learn more.
About the author:
Roby Smith is Iowa’s 26th State Treasurer and is the administrator of the ISave 529 Plan and IAdvisor 529 Plan. He lives in Davenport, Iowa with his wife Kari and three kids. Learn more about ISave 529 at ISave529.com.