James Lopez’s three sons are looking forward to plenty of Christmas presents this year.
But one gift to his 13-year-old, Jaiden, will require a special touch.
While other relatives give Jaiden gift cards, Lopez’s parents and in-laws plan to give at least $300 to the teenager’s 529 college savings account.
The money will go into the account Lopez created a week after Jaiden’s birth. Lopez started it with a $100 investment and the fund now has approximately $13,000, built on Lopez’s $100 initial investment and $25 monthly contributions.
His grandparents have put money into Jaiden’s 529 before as a gift, but Lopez said he’ll still have to quietly pull aside his son and emphasize why a tax-advantaged college savings plan is a great gift, even