It’s crazy to think that in 15 years my babies will be in college! 15! We are just guesstimating that our kids will need $50,000 per year per college, that is $400,000 for us with two kids! And…that doesn’t even include the cost of their first car, wedding, etc. We decided a while back that we needed to start a fund so we don’t have to worry about these things when the time comes. However, we weren’t sure how to do this because most saving plans out there were only for school until we discovered UNest! We were sold!
UNest makes it easy for parents to invest in their children’s future with a simple, flexible, and tax-advantaged custodial account for minors. Plus, your family and friends can contribute funds to your child’s UNest Investment Account too!
There were several reasons why we selected UNest:
We loved how flexible UNest is compared to other saving accounts that can only be used for education. Funds saved can be used across any of your child’s life events like college, their first car, down payment on the house, wedding day or any other important milestone.
More Options Than a 529 Plan
Both 529 plans and UNest custodial accounts offer tax advantages for parents and others to help save for a child’s tuition and other educational expenses. However, UNest’s Investment Account for Kids goes over and beyond and offers a flexible way to save for all the future life stages your child will experience. This may or may not include education. You can use the funds you invest in UNest for any expense that benefits the child named on the account like mentioned in the previous section.
Up to $2,200 in annual earnings in a UNest Investment Account for Kids grow in a tax-advantaged way. The first $1,100 of the earnings is completely tax-free. The next $1,100 is taxed at the child’s tax rate.
Money is Safe and Insured
Security is a priority for UNest. UNest provides the highest levels of security to ensure your information and data is safe. All accounts are protected with 256-bit SSL encryption and continually monitored for extraordinary or suspicious activity by our Compliance team. Also, all UNest tax-advantaged Investment Account for Kids are SIPC-insured up to $500,000 (up to $250,000 for cash claims) and held, with broker-dealer Apex Clearing Corporation, Member SIPC.
Doesn’t that all sound great? I don’t even want to think about becoming empty nesters yet but I know it’s better to always be prepared! I’m thankful that we’ve started a college fund for our kids so that when the time comes, we will be ready thanks to UNest! You can download the app here.
This post was sponsored by UNest but all opinions are my own.