By David Bell, Vice President, Vestwell

December 3, 2024

In just a few weeks, we’ll be preparing to gather with friends and family to celebrate the end of another year with our various traditions – a favorite family recipe, matching pajamas, a heirloom decoration, and specially selected gifts wrapped with care. Promotions have been running since we turned off the lights on Halloween night – but what if you could wrap a gift with (almost) endless possibilities this year? A gift that could be imagined and re-imagined, a gift that could potentially be worth even more than your investment this year. What if this year, you started the tradition of supporting your loved ones’ future dreams by making a gift to their 529 account on Giving Tuesday?

When you gift to a 529 account, you provide several gifts in one:

A gift that could grow over time: Contributions of any size can add up over the years and have the potential for growth while invested. A new fun family tradition might be a family matching fund. Each family member can contribute a small amount of $25 to reach a target goal toward a new semester, tuition deadline, or more by the end of the year.

A gift of flexibility: Your loved one can choose which qualified distribution expense is best for them when they head off to school – tuition, books and supplies, room and board, and more. 529 plans can also support other aspirations like trade schools, apprenticeships, and fellowships.

A gift that wins awards: In 2023 and 2024, 529 Plans were selected as Good Housekeeping’s Best Parenting Awards.

This holiday season, consider giving a gift full of possibilities by contributing to a loved one’s 529 account – or better yet, set up recurring contributions to help them achieve their dreams. Ask your family and friends to share their 529 gifting information or see what gifting options your home state 529 program offers by visiting CSPN’s Find My State’s Plan tool.

About the Author

David Bell is Vice President at Vestwell, leading client relationships for 529 and ABLE programs. David has a long background in Financial Education and State Savings Programs.