Giving Children Gifts to Last a Lifetime
Your kiddo’s birthday is coming up! Instead of getting them gifts that jingle, get them one that folds: I’m talking about money.
Have family members direct deposit funds into a 529 plan–a tax-advantaged savings plan for your kiddos future education expenses.
Some fun facts–(thank me later):
- It’s state specific, but that doesn’t mean your child has to attend school in a particular state to use the funds.
- Check your state because you may receive a state tax deduction, but that’s only if you contribute.
- You can only spend the money on qualified education expenses like school fees, food and meal plans, off-school housing, special needs equipment, books, computers and lots more.
- The earnings you invest grow tax-free.
This is a gift that will keep on giving!
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About the Host
Rianka R. Dorsainvil
Rianka R. Dorsainvil, CFP®️ is the Co-Founder and Co-CEO of 2050 Wealth Partners a virtual, fee-only comprehensive financial planning firm dedicated to serving first-generation wealth-builders, entrepreneurs, and thriving professionals. Rianka also hosts 2050 TrailBlazers, a podcast aimed to address the lack of diversity in the financial planning profession by engaging industry experts and leaders in conversation.
As an award winning successful, millennial Certified Financial Planner professional, Rianka offers a unique perspective not only on the current state of the financial service industry, but on how to stay relevant in an ever-changing world.
Rianka serves as a member of CNBC’s Digital Financial Advisor Council and CFP Board’s Diversity Advisory Group, is a Forbes Personal Finance Contributor, and has been recognized for her accomplishments and leadership within the industry by leading publications and organizations such as Investment News’ inaugural 2017 Women to Watch Rising Star and Wealth Management’s Ten to Watch in 2018. She has been published in PBS NewsHour, Forbes, USA Today, Black Enterprise, CNBC, Women’s Health, and more.