Edvest 529 Account Owner & Beneficiary Spotlight: Christy, Jason and Cienna Haller,

published August 29, 2024

Christy and Jason Haller, parents from Eau Claire, Wisconsin, have been committed to securing their daughters' educational futures through the Edvest 529 College Savings Plan. With three daughters—Cienna, Mattigan, and Lindey—Christy and Jason knew that saving for higher education was crucial. Today, they are seeing the benefits of planning ahead, as their children are approaching or completing post-secondary education.

I spoke with Christy and Jason, and their eldest daughter Cienna, to learn more about their journey with Edvest 529, their strategic approach to saving for multiple beneficiaries, and the lessons they've learned along the way.

Simplicity and Separation

The Hallers' journey began when their financial advisor recommended the Edvest 529 College Savings Plan. Recognizing the importance of starting early, they opened accounts for all three daughters. Because 529 accounts are designed to save for education, they felt confident choosing Edvest 529 over other bank or investment accounts.

Christy and Jason appreciated the simplicity of Edvest 529 and the ability to manage separate accounts for each daughter. "The ease of Edvest 529 was so nice," Christy said. "I did it all online and was able to open all three accounts very quickly." The opportunity for contributions to qualify for a Wisconsin state income tax deduction each year, and the option to invest in target enrollment date funds were additional incentives. As their daughters approached high school graduation, the investments became less risky, providing them peace of mind. "We knew that the money would be there," Christy noted.

Strategic Saving for Multiple Beneficiaries

With children of different ages, the Hallers faced the challenge of managing multiple beneficiaries. Following their financial advisor's advice, they opened accounts for all three daughters simultaneously. This strategy would allow them to transfer funds from one daughter to another, if necessary, and provide flexibility in their financial planning. Currently, they have one daughter in high school and one attending college. Their eldest, Cienna, recently graduated with her Bachelor of Science in Nursing from UW Eau Claire and is working in her chosen field. The financial support from her Edvest 529 account played a significant role in shaping her educational journey. "Having savings in a 529 account definitely influenced my career pathway," Cienna shared. "I was able to choose a more rigorous curriculum and didn't have to work a full-time job while being a full-time student."

Unlike some families, Jason and Christy did not receive financial help from extended family. Their dedication to saving for their children's education was all their own. Reflecting on their motivation, Jason shared, "We both went to college without a nest egg and ended up dropping out to prioritize work and paying bills. We wanted our children to have the opportunity to go to college without stressing over finances.”

As their children have grown, the Hallers see the benefit of continuing to contribute, even while making withdrawals from their Edvest 529 accounts to pay for education. "It's great that we can still contribute to grad school as well," Christy mentioned, highlighting the long-term benefits of their planning.

Beneficiary Spotlight: Cienna Haller

Cienna's college and career journey started with extensive research into different majors. She chose nursing and found that UW Eau Claire, her hometown university, was the best fit. "Having savings in a 529 account allowed me the freedom to focus on my academics rather than worrying about financial constraints," Cienna said.

She became aware of her parents' savings efforts when she started applying for colleges. "We sat down and looked through what I would need financially each month and for the semesters. Knowing they had saved for me in a 529 account was a huge relief."

Her Edvest 529 savings not only helped her through undergrad, but also paved the way for her future plans. "I'm intending on applying to grad school for a CRNA (certified registered nurse anesthetist) program," Cienna explained. "Having that buffer through undergrad made a significant impact, allowing me to graduate debt-free and save for grad school."

Reflecting on her journey, Cienna expressed gratitude for the opportunity to pursue her passion. "Nursing is a very humbling profession and having the financial support from my parents through Edvest 529, made all the difference."

Advice for Other Parents

The Hallers emphasized the importance of starting early and consistently contributing to the 529 savings plan. "Don't wait, you have to invest right away," Jason advised. "College isn't getting any cheaper, and the quicker you start saving, the quicker you can come up with a plan. It can help make your future much less stressful." They also recommended setting up automatic payments from your paycheck. "You don't have to see it, you don't have to think about it, and it's done for you," Christy explained. This automation made it easy for the Hallers to consistently save without feeling the financial burden.

The Edvest 529 plan provided flexibility not just for tuition but also for other educational expenses. "One [daughter] needed a computer for college, and we could use Edvest funds to help her get it," Christy shared. This flexibility was crucial for meeting the diverse needs of their children.

One Word: Success

For the Hallers, the Edvest 529 plan can be summed up in one word: "success." Jason emphasized, "You have to use it...it's too easy. They make it so user-friendly, and time is the greatest thing. A few dollars a month can turn into a substantial amount of money 17 or 18 years down the road. It makes a humongous difference in what you can do for your kids." Despite not starting when their children were newborns, the Hallers proved that it's never too late to begin saving. Their story is an inspiring example for other parents looking to secure their children's educational futures.

Thank you, Christy, Jason, and Cienna, for sharing your inspiring story with Edvest 529! Your experiences highlight the profound impact of early, strategic saving on educational and career success.

We Want to Hear Your Story

Are you an Edvest 529 Account Owner with a story on how saving for college has impacted your child or grandchild's life? We want to hear and share your story! Email Chelsea Wunnicke at chelsea.wunnicke@dfi.wisconsin.gov or Cheryl Rapp at cheryl.rapp@dfi.wisconsin.gov, with your story, and we will be sure to reach out.

###

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. Read it carefully. Investments in the plan are neither insured nor guaranteed and there is the risk of investment loss. 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. 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. Consult your legal or tax professional for tax advice. 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. Consult your legal or tax professional for tax advice. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for the Edvest 529 College Savings Plan.

This testimonial was provided by an Edvest 529 account owner(s), 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.

FGN-3739087CR-E0924W