The Holiday Gift that can Last a Lifetime

published November 25, 2024

As the holiday season approaches, we, as parents, are asked by grandparents, family friends, and relatives: "What does your child want for the holidays?" We aim to find the perfect gift…but down the road, will our kids truly value another toy, game, or outfit?

Fortunately, one of the best presents we can give this year isn’t found on Amazon or in toy stores – it’s an Edvest 529 College Savings Plan. More than just a thoughtful gift, an Edvest 529 account can provide long-term benefits, such as helping to secure our children’s future education and financial stability.

Contributing to a college savings account is a gift that can last a lifetime—and with Edvest 529, it's simple to do.

Unwrapping Edvest 529

Edvest 529 is a tax-advantaged investment account that can be used to save, invest, and pay for future education expenses such as college tuition, housing and food, books, supplies, and more. The funds are not limited to just Wisconsin colleges either. Edvest 529 funds can be used at any accredited in-state or out-of-state colleges and universities, and many schools abroad. Funds can also be used to pay for two-year technical degrees, trade programs, or registered apprenticeships.

And Edvest 529 offers triple tax benefits. Wisconsin taxpayers may claim a state tax deduction on contributions made to an Edvest 529 plan, up to $5,000 per beneficiary for single filers or married couples filing jointly, or up to $2,500 for married couples filing separate. Limitations apply. Additionally, earnings grow tax deferred at the state and federal level, and withdrawals are 100% tax-free for qualified education expenses.

The Gift that Can Keep on Giving

Grandparents, aunts, uncles, and even family friends can open an Edvest 529 College Savings Plan account for any child they wish to help support. The Edvest 529 account owner maintains control of their funds, chooses their investment portfolios, and determines when and how withdrawals are made for their student’s future education.

Once an account is open, gift givers can contribute to an Edvest 529 account using the Ugift^® platform. With this simple gifting option, the account owner simply shares a unique Ugift code for each child with family and friends, and with just a few clicks, a gift contribution can be made.

Account owners are notified when funds are added—so they can feel the joy of watching their children’s account grow over time. And any Wisconsin taxpayers contributing to an Edvest 529 account may be eligible for a state tax deduction, making gifting to an account a win not only for the student, but for friends and family as well.

Wisconsin Families Giving College Savings

Grandparents Jim and Vicki Sadowski of Pewaukee, Wisconsin, have seen the benefit of saving over time. "Our initial goal was to cover at least two years of each grandchild's college tuition, but we now believe we will be able to cover the tuition for all four years," says Jim Sadowski on saving in an Edvest 529 account on behalf of his grandchildren. "Today, as our first grandchild nears entry to college, we experience a great amount of satisfaction knowing that one of the legacies we will leave for our grandchildren is the ability to graduate from college debt-free…and what a tremendous gift that is for an adult child or grandchild.”

Holiday Bonus Incentive for New Accounts

To help make the holiday season even more joyful, Edvest 529 is offering a special holiday promotion for new account owners.

Simply open an account with a minimum of $1,000. Set up recurring contributions of $50 or more per month until June 30, 2025, then get a $100 bonus.^*

"Contributing to an Edvest 529 college savings plan account can be one of the most meaningful gifts you can give a child. It’s a present that can grow with them and helps secure their future education and financial stability. It also can give families peace of mind knowing that their loved ones’ futures are being invested in," said Wisconsin Department of Financial Institutions Secretary Cheryll Olson-Collins. The Wisconsin Department of Financial Institutions administers the Wisconsin 529 College Savings Program, which includes the Edvest 529 college savings plan. "We hope Edvest 529’s special holiday bonus offer for new account owners encourages families, family friends, and relatives to start their education savings journey for any child they wish to help support this holiday season," added Olson-Collins.

What better time to start saving for your child’s college education than now? Light up the holidays with Edvest 529 – a gift that can last a lifetime. To learn more, visit Edvest.com.

Happy holidays!

Want more details?

Check out our "What is the best option for college savings" video for more of a breakdown of what a 529 plan is and its tax benefits.

###

Footnotes

1. ^*Visit Edvest.com/offer24 for terms and conditions. Promotion ends 12/13/2024. Sponsored by Wisconsin’s Edvest 529 College Savings Plan. ↩
2. To learn more about Wisconsin's Edvest 529 College Savings Plan, its investment objectives, risks, charges, and expenses, see the Plan Description at Edvest.com before investing. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. Consult your legal or tax professional for tax advice. Wisconsin taxpayers can qualify for a 2024 state tax deduction up to $5,000 annually per beneficiary, for single filer or married couple filing a joint return, from contributions made into an Edvest 529 College Savings Plan. Married couples filing separately may each claim a maximum of $2,500. If the funds aren't used for qualified higher education expenses, a federal 10% penalty tax on earnings (as well as federal and state income taxes) may apply. Prior to investing, check with your home state to learn if it offers tax or other benefits such as financial aid, scholarship funds or protection from creditors for investing in its own 529 plan. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for Wisconsin's Edvest 529 College Savings Plan.
3. This testimonial was provided by Edvest 529 account owners, and no direct or indirect compensation was given in return. No material conflicts of interest exist on the part of the account owner(s) giving the testimonial, resulting from their relationship with TIAA-CREF Tuition Financing, Inc. Results experienced by the account owner(s) may not be representative of the experience of another/other account owner(s), and there is no guarantee of future performance or success.
4. Ugift is a registered service mark of Ascensus Broker Dealer Services, LLC.

3976970-1226