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Why Wait? Open an Ohio 529 Plan Today

September 19, 2019 by Rachel 50 Comments

This post may contain affiliate links

September is already upon us and the school year is back in full swing! Moms everywhere are already tired of packing lunches, helping with homework, and scrambling for outfits every morning.

But the thing is is that the end of the school year will be here before we know it. And then another Summer will fly by. Then we’ll be starting another school year. And soon enough, those kids we were sending off to kindergarten will be graduating high school. It will all happen before we know it.

As a parent still struggling with their own student loan debt, I knew I wanted to set my own children up for success from the start. So Chad and I started a 529 Plan for Ari when he started school.

Kid in green shirt

What is a 529 Plan?

A 529 Savings Plan is a lot like a 401k. It’s an easy, tax-friendly way to save for your children’s higher education. Ohio’s 529 Plan can be used across the country for 2-year and 4-year programs as well as technical schools.

Ohio’s 529 plan makes it incredibly easy to open and start saving for the future. They offer tools like the College Savings Planner to help you figure out how much your investment will impact your students’ future education. You can also check out this Cost Of Waiting Tool to see just how inaction can negatively impact your higher education finances.

Right now my first grader wants to be a YouTuber. But, heck, at his age I wanted to be a singer. Things change… quickly. In 5 years he may want to be a doctor or even a welder. Who knows.

But I do know that he will have options. He can decide whether a two or 4-year school is in his cards. He can decide if a trade school will be best for him.

First Day of School Dress

It’s so easy to get started.

There are only a few things you truly need to start Ohio’s 529 plan.

  1. Your ID, social security number, telephone number, address, your date of birth, and your mothers maiden name.
  2. The telephone number, social security number, address, and date of birth of your successor (someone to take over the account should something happen to you).
  3. And lastly, the date of birth, telephone number, address, and social security number of the person you’re saving for.

That’s it. Easy peasy, right? Exactly.

Kids on a hay bale

So why wait?

Don’t. Give your children the tools they need to be successful. Engage them in learning and nurture their passions. But also provide them with the financial support they will need in the future, now.

Click here to get started with your very own Ohio 529 Plan.

Hopscotch Image

Filed Under: #MomLife, back-to-school, children, cleveland, Columbus, Columbus Ohio, Cuyahoga Falls, family, giveaway, Kent, mommyhood, money saving tips, Ohio, parenthood, school, tips + tricks Tagged With: #MomLife, back-to-school, children, cleveland, columbus, Cuyahoga Falls, family, giveaway, Kent, money saving tips, motherhood, ohio, parenthood, school, tips + tricks

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Reader Interactions

Comments

  1. Paula @ I'm Busy Being Awesome

    September 20, 2019 at 1:21 pm

    That’s such a great idea to start early savings

    PS: I love the new design of the site.

    Reply
  2. tweenselmom

    September 20, 2019 at 6:08 pm

    The earlier to invest in our children’s future, the better. Gives us both parents and kids leeway in every aspect.

    Reply
  3. Jen

    September 20, 2019 at 11:42 pm

    This is true. Why wait? there’s a lot of ways to invest in our kids future a small portion won’t hurt. Thanks for sharing!

    Reply
  4. Marina

    September 21, 2019 at 7:42 am

    Interesting post for the ones with children x

    Reply
  5. Kuntala Banerjee

    September 22, 2019 at 7:42 am

    Good plan for kids. Well here in India also we have such savings plan for kids. It is good to plan early as the benefits will be more later.

    Reply
  6. Amber

    September 22, 2019 at 7:55 am

    We started one of these for each of our kiddos when they were born! It’s such a great program!

    Reply
  7. berlin

    September 22, 2019 at 1:12 pm

    so cute of your little darling to want to be a youtuber. but seriously, yee, better to save and invest for the kids’ future.

    Reply
  8. Lavanda Michelle

    September 22, 2019 at 3:42 pm

    I have a 529 plan for each of my children and I had them for years. I believe the earlier the better. a

    Reply
  9. Michael

    September 24, 2019 at 12:58 am

    First I love knowing what your children want to be in the future. Youtuber! lol. And second, a saving plan is always a great investment so why not!

    Reply
  10. Urvi

    September 24, 2019 at 2:01 am

    wow this is great way to save for higher education. Thanks you so much for the info.

    Reply
  11. Laura

    September 24, 2019 at 3:18 am

    Saving really is so so so important.
    We didn’t with my oldest and he is a year away from varsity and we are stressing about what to do 🙁

    Reply
  12. Carissa

    September 24, 2019 at 6:15 am

    Great Idea! You would think since I work in higher education I would’ve started one of these savings plans already but we have not! But it’s something we need to do because time goes so fast!

    Reply
  13. Dalene Ekirapa

    September 24, 2019 at 8:43 am

    It is so wise for parents to start saving for their kids’ higher education right from the time they are younger. I know of people who are still struggling to clear those loans and oh my! It is work. Parents should really embrace this 529 Plan.

    Reply
  14. Ainsley

    September 24, 2019 at 10:16 am

    I think Louisiana has a version of this! Definitely a great idea to save for your child’s future!

    Reply
  15. Amanda Martin

    September 24, 2019 at 10:19 am

    Such a great idea! I work at a financial institution so I think it’s fantastic to see people saving for their futures.

    Reply
  16. Yanna Lowe

    September 24, 2019 at 10:36 am

    Yes! All my boys have their own accounts and I love the fact that I am setting them up for financial greatness. I wish more moms knew this!

    Reply
  17. Cyndi Buchanan

    September 24, 2019 at 10:50 am

    We have a 529 plan for our kids. I really hope it helps them pay for college.

    Reply
  18. Sophia

    September 24, 2019 at 11:10 am

    This is my first time hearing of this but it sounds really great. I will have to do more research on it.

    Reply
  19. Maureen

    September 24, 2019 at 3:24 pm

    It’s never too early to invest in our kids future. I started as soon as mine turned 1. I might check out this 529 plan.

    Reply
  20. Bella

    September 24, 2019 at 3:52 pm

    Such a wonderful idea. totally need to check this out. love this share.

    Reply
  21. Sushmita

    September 24, 2019 at 5:20 pm

    This looks like a great future investment, Thanks for sharing, need to check it out!

    Reply
  22. Steph S

    September 24, 2019 at 5:40 pm

    Saving for your child’ Education is so important!! It can literally be the deciding factor in what school they attend or if they go to college at all! Never too early to start!

    Reply
  23. Paula Stewart

    September 24, 2019 at 6:07 pm

    Since South Carolina taxpayers can deduct any amount they contribute to an SC 529 plan, as long as they have the income to deduct we will be contributing as much as we can to our grandchildren’s education needs.

    Reply
  24. Stephanie Stebbins

    September 24, 2019 at 6:27 pm

    YES! The sooner you start, the better!

    Reply
  25. Lindsay Veremis

    September 24, 2019 at 8:48 pm

    Simple, straightforward and insightful! This really walks parents through the process in an easy to comprehend manner.

    Reply
  26. Christa

    September 24, 2019 at 9:44 pm

    Saving for your kids’ future is such a wonderful gift to give them. It will make a huge difference in how they begin their adulthood. My student loan debt didn’t get paid off until I was 40!

    Reply
  27. Camille

    September 24, 2019 at 9:44 pm

    It’s wonderful that they have tax free savings plans now for college, which is so important for families that can afford it, and hopefully can help others afford it. Saving early is paramount!

    Reply
  28. Erik the Hungry Traveller

    September 24, 2019 at 9:52 pm

    Im sure a lot of parents would find your post very useful and informative. Absolutely is a great way of saving for your kids education.

    Reply
  29. Stephanie

    September 24, 2019 at 10:39 pm

    Sounds perfect to plan for child’s future

    Reply
  30. Kuntala Banerjee

    September 25, 2019 at 3:58 am

    It is absolutely a must plan for the future of our kids. Me and my husband ensure that we have made the requisite plans for our child’s future.

    Reply
  31. Ellie Plummer

    September 25, 2019 at 6:11 am

    This sounds like a brilliant idea. My parents never did anything like this for me so I know that I will want to open some form of savings account for my children.

    Reply
  32. Sundeep

    September 25, 2019 at 6:35 am

    This is great way to save for future. Thanks for sharing I will definitely going to check this

    Reply
  33. Maartje van Sandwijk

    September 25, 2019 at 6:49 am

    This is an amazing way to save for education for your kids!

    Reply
  34. Jasmine M

    September 25, 2019 at 9:00 am

    I wish this had been an option for me when I was growing up so my mom could have did this for me… or if it was, I wish she had known about it. Lol Paying for college is no joke and those student loans are awful. Thanks for letting me know about this. I’ll share it with my friends that have children so that they can prepare for the future.

    Reply
  35. Aditi Wardhan Singh

    September 25, 2019 at 10:45 am

    We have been thinking for a while to start in V 529 , have to get on this right away!

    Reply
  36. Patricia M.

    September 25, 2019 at 8:22 pm

    This is great information for parents that haven’t started saving for the kids college yet. Really hits us before we know it.

    Reply
  37. Marysa

    September 25, 2019 at 9:11 pm

    We really need to have a solid plan for college savings. This sounds like an awesome way to save up!

    Reply
  38. Jennifer Maune

    September 26, 2019 at 10:52 am

    Great reminder! I think college savings plans are so important, that way our kids don’t have to worry about so much debt!

    -Jennifer

    Reply
  39. Arun Dahiya

    September 27, 2019 at 4:33 am

    This is actually a good plan. Savings since the starting go a long way. Didn’t know about it. Would check for my little sister.

    Reply
  40. Candi Carey

    September 30, 2019 at 3:38 pm

    This is such a great idea. I love plans like this that help us save for the kids’ future.

    Reply
  41. Agnes Vazhure

    October 2, 2019 at 6:05 am

    This sounds like a nice plan and a really good to try! This will be really so helpful for the future

    Reply
  42. Elizabeth O

    October 5, 2019 at 5:12 pm

    This is such a good investment for the future of the kids. We never know what the future brings so better plan ahead.

    Reply
  43. Krista

    October 22, 2019 at 9:06 pm

    I love this! I have been looking for the right plan for my family so that we can start to save for our children’s education. I’m glad that I read this while they are still young enough to get one started.

    Reply
  44. Tara Pittman

    October 23, 2019 at 12:10 am

    This is a program that all parents need to look into. College is expensive and this is a good savings plan.

    Reply
  45. Nyxie

    October 23, 2019 at 2:53 am

    It’s never too early to open a savings account either for yourself or you kids. I’ve been saving for years, and as soon as I was 16 I opened my very own savings account in addition.

    Reply
  46. Rach

    October 23, 2019 at 9:13 am

    Great advice. It’s never a bad time to start but the sooner the better!

    Reply
  47. aisasami

    October 23, 2019 at 12:44 pm

    My father just told me that he had a 401k plan for my sister all this time. I wish he saved for me and my brother when we were little. ;( Paying for college would’ve been easier.

    Reply
  48. Natalia

    October 23, 2019 at 2:22 pm

    I don’t have children, but saving money for future education in the USA seems to be really important and it’s good to have a plan. Great that we don’t have such big problems with getting our school done here in Poland. 🙂

    Reply
  49. Jocelyn

    October 24, 2019 at 10:22 am

    That’s such a good idea to start saving early. I’m planning on doing so when I start having kids.

    Reply
  50. georgia boanoro

    November 6, 2019 at 5:18 am

    Saving plans are a must for kids!

    Reply

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