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:
Flexibility
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.
Tax Benefits
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.
I signed up for UNest when my oldest was a baby. I totally forgot about it until now!
What a great way to save for college. This seems like such a smart program.
Saving money for college is IMPORTANT. My daughter graduated from NYU and later The University of Michigan for her Master’s degree. Luckily she had full rides! FREE college all the way.
That is such an awesome idea! Saving for the kids’ future is key, but it can be hard to do. It’s never too early to start.
I need to look into this! We have a savings plan for the kids right now, but I think we can do better.
UNest sounds like an excellent way to give the kids a huge head start. I think this will be a big help to so many parents.
It’s great to save up when you can. My husband and I have been doing the same for our kids. We’ll set money aside for them whenever we can.
Saving up for college is so important! Thanks for sharing UNest!
I do agree that we really need to plan for our kids’ college education. It’s always wise to start early.
What a wonderful program and post. I wish I had set up college funds for my kids.
I had a friend who saved money by doing all the dinky intro classes at her community college. Of course, she made sure those classes transferred to her main university first. She then took the program specific classes at the university. It saved her a TON!
My kids are getting older (middle and high school) and I need to start thinking about a plan. These are all good things to think about.
This is such a useful & informative post! We have a .529 plan and it is one of the best things we’ve ever done