A sort of new website, where
you can gift a child (birthday for example) some money that will be transferred
to their 529 college savings account.
You can also give the child one of your existing gift cards (like for a
restaurant or something) that you don’t plan to use, and it will go to the
child’s 529 (minus a fee).
Lately I have discovered that
529 plans are a probably a better idea than I had originally thought. The individual funds are merged by States that sponsor them
so returns can be better than individual families might earn by picking their
own investments (or not, depending) , and also there is no stress on the family
to “invest” the funds. It is done for
the parents.
Also there are fringe
benefits (in my opinion) regarding how the proceeds are taxed when used to pay
for college, and other things that might make it more attractive than a pure
savings account. Also, if there is some change
of good fortune in the family, the funds are secure for the child’s education,
much like an IRA.
Is another option for similar
gift giving.
