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| I have 8 grandchildren, my wife and I make annual contributions to a 529 through American funds diversified portfolio of funds. Do not recieve the state tax deduction because American funds are not on the approved list, was worth it to me to have a top performing family of funds from which to choose. The funds have performed very well, accumulating very nice account balances. I know my children are planning on college for each and every one of my grandchildren, and I’m fine by that. I have one grandson destined to take over the farming operation, he eats, lives, and breathes it. Straight A student, very smart, well grounded young man. Loves and worships Iowa State, and will most certainly be going there, getting Ag Business degree I’m assuming. Even though the future of this operation is his if he so chooses, an ag business degree will certainly help him in the financial aspect of running a large modern grain farm. The social side of things are also important for young persons. Many kids find their mates in college. I suspect a good share of my grandkids will also. I know for a fact my 2 youngest children would not be where they are today without their college degrees, as it was a necessary first step to land their first jobs, which through the years propelled them to where they are today. The positions they hold are not attainable on high school GED’s. My oldest tried college for one semester, discovered it wasn’t for him. Got a good job in sales, and started farming with me after a few years. This spring will be nine years ago I stepped aside, and let him completely take over the farming operation, all the while maintaining his career in sales. He’s an exemplary achiever though, and doing just fine without a degree. He also was not socially ackward, has many good friends. Took him a few years longer to find his wife, but he found a keeper when he did.
Edited by Boone & Crockett 1/5/2025 04:44
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New Dad: Tax Savings and College Investing Ideas
