MONEY: A grandparent’s obligation?

Wednesday, December 17, 2014

https://personal.vanguard.com/us/whatweoffer/college/vanguard529

Saving for college—trust Vanguard to help you reach your goal

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Keep your money for college—not taxes

When you invest in a 529 plan, your earnings grow tax-deferred, so more of your savings goes toward your main goal—financing a college education.

Why the Vanguard 529

  • Low costs
  • Our expenses and fees, among the lowest in the industry, allow more of your money to work for your child.
  • Easy investing
  • Choosing an age-based option and
  • an automatic investment plan (AIP) could mean almost no work for you.

Experience

  • We’re a leader in direct-sold 529 plans: Vanguard investment options are offered in 28 plans totaling more than $25 billion in assets.*

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Holiday gift giving season is upon us.

I’m not only a fat old white guy injineer, but a Bahhh Humbug type who’s hero is old Ebenezer (who I think was given a bad rap!).

Grandparents, assuming you want the best for this grandchildren, have an obligation to “fill in” for the parents. Parents have to do the day to day things, under pressure and time constraints. Us old <synonym for multiple instances of  flatulence> — and I include myself in that category — have the luxury of seeing the “whole road” since we are far closer to the end than the beginning.

What one thing do parents overlook or can’t afford — other than there own retirement?

Yup, saving for their kids education. 

Now in our day and age, I know I got a present and a savings bond. Sometimes the savings bond WAS the present. One uncle gave me a FIFTY DOLLAR bond and a big <synonym for donkey> navel orange! I remember that one. But the savings bond is a joke now days. It’ll never pay for tech school or college.

So, rather than throw money away on presents that will NEVER be remembered, I’m agitating for 529’s.

Specifically the Vanguard 529 Nevada plan because of the “age adjustment” option and the very low fees.

While YMMV, this gift would be wasted. Even if it’s forgotten.

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