Grandparents play one of the most important roles in a child’s life. They guide, support, and unconditionally love their grandchildren, whether you see them daily or live an ocean apart. They are a protector and playmate for your children, while being a support system and sounding board for you, their child!
Unlike a parent, they have the unique tilt in perspective that comes with an additional generation of knowledge. They don’t wear the shackles of the day-to-day tasks or have the frantic brain of a new mom or dad. They have the experience and clarity to see not only the road ahead, but the entire map for their grandchild. With that, they can distill down and identify the most significant and life-defining moments as they grow.
Give the gift of higher education
Instead of contributing to that mounting collection of toys this holiday season, we encourage grandparents to consider the gift of higher education. A gift that will make a deeply significant contribution worthy of a grandparents important role in their life.
Let ScholarShare assist your college savings
In September, we wrote about ScholarShare 529, California’s college savings plan, a 100% tax-free investment plan that is so simple to use, and costs as little as $25 to get started. You can read more about all they have to offer here. To clarify, although this is a State of California endorsed program, you do not need to reside in California, and the beneficiary does not need to attend school in California. (In fact, ScholarShare 529 plans can be applied at schools nationwide and even those overseas).
There are so many fantastic reasons to save with ScholarShare 529. (Here are 10 straight from the source.) Most significant to grandparents will be the ability to contribute alongside other family members. All funds in the ScholarShare 529 account can be used toward more than just tuition. Students can purchase books and pay for housing — not to mention the potential annual gift tax exemption for you.
Don’t wait to save for college
For parents and kids alike, it’s easy to think about the wants and needs that face them on a daily basis. It might be new clothes for the season ahead or equipment that is needed for a new sport. Before we know it, we are sending our kids off to school wishing that we had planned better and saved more. As parents, we can tell you first hand how far the gift of education goes.
Among the many milestones and big financial decisions for each child’s life, grandparents know how important saving for college can be. Grandparents know all too well how critical it is to use the resource of time to grow even a small amount of money into something that can really make a difference. The lack of hindsight for the next generation is quite possibly the biggest barrier to saving effectively for future financial needs. So this holiday season, we recommend the gift of education. Parents and children will both appreciate this gift — now and in the future!
Click here to give the gift of a ScholarShare 529 college savings account this holiday season.
*Disclosure: ScholarShare sponsored this post. All opinions, as always, are our own.
