Print Friendly and PDF

As you dream of your child's future, you might have this question looming over your head: How am I going to pay for my child's college education? As parents, we know that the earlier you start a college fund for your kids, the better.

If you're not sure what other ways you can financially prepare for the coming college years, a good place to start is a 529 college savings plan. These savings plans are designed specifically to help pay for college and are a great investment option for families who want to see their money grow, tax-free, over a stretch of time.

FEATURED VIDEO

Here are answers to common questions around 529 plans so you can be fully equipped to start saving for your little one's bright future:

What is a 529 savings plan?

A 529 is a state-sponsored college savings plan that allows parents to invest money towards educational expenses. The 529 is beneficial for many reasons, but most importantly, the savings plan is tax-free. Once the beneficiary of the account is college-bound, they're able to withdraw funds free of federal and state income taxes.

By the time college rolls around, the recipient can use the money towards a variety of schooling necessities, such as:

  • Tuition
  • Books
  • Laptops and related technology devices
  • Room and board

Additionally, as of January 1, 2018, families can now also use their 529 plans to pay for private elementary, middle and high school tuition.

What kind of 529 plan should I get?

There are two types of 529 plans:

  • College savings plans: This is the more popular of the two 529 plans. The plan works by establishing a savings account specific to schooling expenses. Contributions are invested, tax-free until the beneficiary is ready for college.
  • Prepaid tuition plans: The prepaid tuition plan allows parents to pre-purchase all or part of tuition costs for an in-state, public school. The investment can then transfer to one of the 250 private or out-of-state colleges sponsored by the plan. This plan is great for locking in current tuition rates, but make sure to consider all the terms, as some schools come with high premiums and are not always guaranteed to be covered.

How do I contribute money to my child's 529 plan?

There are two approaches to contributing to a 529 account:

  • Static funds: Static funds include stocks, bonds, real estate funds or money market accounts. This is a customized plan that tends to be more appealing to investment-savvy folks.
  • Dynamic investment: Dynamic investments are based on the beneficiary's age, which starts off by investing in stocks and higher-risk options. As the child ages, the investment automatically shifts to a steadier, low-risk option. This approach is better for those who prefer a hands-off approach towards investing.

Where should I open my 529 college savings plan?

Although every state offers at least one 529 plan, their investment options and fees look a little different.

You can invest in any state's 529 plan, even if you don't live there or your child won't go to school there. With that said, some states offer tax deductions based off of 529 contributions, so it's worth shopping around to see what plan works best for your current situation.

Starting a 529 college savings plan requires some time and research and before you dive in, it's important to know where you stand. With tools like Intuit's Turbo, you can gain a holistic view of your financial profile and see your income, credit and loan details in a single account dashboard.

Will this impact my child's ability to file for financial aid?

Financial aid takes family income and additional assets into account, but when a student applies for Federal Student Aid, there's a section of the application dedicated to Expected Family Contribution, where the student will note family income and assets, such as the 529 plan.

Fortunately, a 529 is weighed far less than other areas of wealth, which means that it will not greatly impact a student's eligibility for financial aid nearly as much as if the child comes from a wealthy family.

When it's time for college, how does my child access their 529?

Assuming that the 529 plan was open in the parent's name, you would allocate the funds in its totality or on an as-needed basis, on behalf of the recipient. Parents can also transfer the account into the beneficiary's name, when their child is prepared to take on that responsibility. This is also a great time for parents to have the real money talk with their child as they head off to school, so they understand what these funds are used for.

Is my 529 plan tax deductible?

When it's tax time and you're getting ready to file all you'll have to do is answer a few simple questions about your education tax benefits associated with your 529, and you'll be eligible for relevant deductions. If you run into any jams during this process, you can connect with a tax pro or CPA to answer your questions.

You might also like:

The very best of Motherly — delivered when you need it most.
Subscribe for inspiration, empowering articles and expert tips to rock your best #momlife.

Subscribe for inspiration, empowering articles and expert tips to rock your best #momlife.

Thanks for subscribing!

Check your email for a confirmation message.

There are few kids television shows as successful as PAW Patrol. The Spin Masters series has spawned countless toys and clothing deals, a live show and now, a movie.

That's right mama, PAW Patrol is coming to the big screen in 2021.

The big-screen version of PAW Patrol will be made with Nickelodeon Movies and will be distributed by Paramount Pictures.

"We are thrilled to partner with Paramount and Nickelodeon to bring the PAW Patrol franchise, and the characters that children love, to the big screen," Spin Master Entertainment's Executive Vice President, Jennifer Dodge, announced Friday.

FEATURED VIDEO

"This first foray into the arena of feature film marks a significant strategic expansion for Spin Master Entertainment and our properties. This demonstrates our commitment to harnessing our own internal entertainment production teams to develop and deliver IP in a motion picture format and allows us to connect our characters to fans through shared theatrical experiences," Dodge says.

No word on the plot yet, but we're gonna bet there's a problem, 'round Aventure Bay, and Ryder and his team of pups will come and save the day.

We cannot even imagine how excited little PAW Patrol fans will be when this hits theatres in 2021. It's still too early to buy advance tickets but we would if we could!

News

In the middle of that postpartum daze, the sleepless nights, the recovery, the adjustment to a new schedule and learning the cues of a new baby, there are those moments when a new mom might think, I don't know how long I can do this.

Fortunately, right around that time, newborns smile their first real smile.

For many mothers, the experience is heart-melting and soul-lifting. It's a crumb of sustenance to help make it through the next challenges, whether that's sleep training, baby's first cold, or teething. Each time that baby smiles, the mother remembers, I can do this, and it's worth it.

FEATURED VIDEO

Dayna M. Kurtz, LMSW, CPT a NYC-based psychotherapist and author of Mother Matters: A Holistic Guide to Being a Happy, Healthy Mom, says she sees this in her clinical practice.

"One mother I worked with recounted her experience of her baby's first smile. At eight weeks postpartum, exhausted and overwhelmed, she remembered her baby smiling broadly at her just before a nighttime feeding," Kurtz says. "In that moment, she was overcome by tremendous joy and relief, and felt, for the first time, a real connection to her son."

So what is it about a baby's smile that can affect a mother so deeply? Can it all be attributed to those new-mom hormones? Perhaps it stems from the survival instincts that connect an infant with its mother, or the infant learning social cues. Or is there something more going on inside our brains?

In 2008, scientists in Houston, TX published their research on the topic. Their study, "What's in a Smile? Maternal Brain Responses to Infant Facial Cues", takes data from the MRI images of 26 women as they observed images of infants smiling, crying, or with a neutral expression.

The images included the mother's own infant alternated with an unknown infant of similar ethnicity and in similar clothing and position. In each image, the baby displayed a different emotion through one of three facial expressions; happy, neutral, or sad. Researchers monitored the change in the mothers' brain activity through the transitions in images from own-infant to unknown-infant, and from happy to neutral to sad and vice versa.

The results?

"When first-time mothers see their own baby's face, an extensive brain network appears to be activated, wherein affective and cognitive information may be integrated and directed toward motor/behavioral outputs," wrote the study's authors. Seeing her infant smile or cry prompts the areas of the brain that would instigate a mother to act, whether it be to comfort, care for, or caress and play with the baby.

In addition, the authors found that reward-related brain regions are activated specifically in response to happy, but not sad, baby faces. The areas of the brain that lit up in their study are the same areas that release dopamine, the "pleasure chemical." For context, other activities that elicit dopamine surges include eating chocolate, having sex, or doing drugs. So in other words, a baby's smile may be as powerful as those other feel-good experiences.

And this gooey feeling moms may get from seeing their babies smile isn't just a recreational high—it serves a purpose.

This reward system (aka dopaminergic and oxytocinergic neuroendocrine system) exists to motivate the mother to forge a positive connection with the baby, according to Aurélie Athan, PhD, director of the Reproductive & Maternal Psychology Laboratory (a laboratory that created the first graduate courses of their kind in these subjects).

These networks also promote a mother's ability to share her emotional state with her child, which is the root of empathy. "A mother cries when baby cries, smiles when baby smiles," Athan says.

While there's a physiological explanation underlying that warm-and-fuzzy sensation elicited by a smile, there may be other factors at play too, Kurtz says.

"In my clinical practice, I often observe a stunning exchange between a mother and her baby when the latter smiles at her. A mother who is otherwise engaged in conversation with me may be, for that moment, entirely redirected to focus on her little one," Kurtz says. "This kind of attention-capturing on the part of the baby can enable and cultivate maternal attunement—a mother's ability to more deeply connect with her infant. The quality of attunement in early childhood often sets the stage for one's relationship patterns in the future."

Whether a physiological response, a neural activation, simple instinct, or the tightening of emotional connection, the feeling generated by babies' smiles is a buoy in the choppy ocean of new parenthood.

And while the first smile may be the most magical by virtue of its surprise and the necessity of that emotional lift, the fuzzy feeling can continue well into that baby's childhood and beyond. It keeps telling parents, you've got this!

[This was originally published on Apparently]

Life

Chrissy Teigen is one of the most famous moms in the world and definitely one of the most famous moms on social media.

She's the Queen of Twitter and at least the Duchess of Instagram but with a massive following comes a massive dose of mom-shame, and Teigen admits the online comments criticizing her parenting affects her.

"It's pretty much everything," Teigen told Today, noting that the bulk of the criticism falls into three categories: How she feeds her kids, how she uses her car seats and screen time.

"Any time I post a picture of them holding ribs or eating sausage, I get a lot of criticism," she explained. "Vegans and vegetarians are mad and feel that we're forcing meat upon them at a young age. They freak out."

FEATURED VIDEO

Teigen continues: "If they get a glimpse of the car seat there is a lot of buckle talk. Maybe for one half of a second, the strap slipped down. And TV is another big one. We have TV on a lot in my house. John and I work on television; we love watching television."

Teigen wants the shame to stop, not just for herself but for all the other moms who feel it. (And we agree.)

"Hearing that nine out of 10 moms don't feel like they're doing a good enough job is terrible," she said. "We're all so worried that we're not doing all that we can, when we really are."

The inspiration for Teigen talking publicly about mom-shame may be in part because of her participation in Pampers' "Share the Love" campaign. But even though Teigen's discussion coincides with this campaign, the message remains equally important. Advertising can be a powerful tool for shifting the way society thinks about what's "normal" and we would much rather see companies speaking out against mom-shame than inducing it to sell more stuff.

Calling out mom-shame in our culture is worth doing in our lives, our communities and yes, our diaper commercials. Thank you Chrissy (and thank you, Pampers).

News

Dear fellow mama,

I was thinking about the past the other day. About the time I had three small boys—a newborn, his 2-year-old brother and his 5-year-old brother.

How I was always drowning.

How I could never catch my breath between the constant requests.

How I always felt guilty no matter how hard I tried.

How hard it was—the constant exhaustion, struggling to keep my home any kind of clean or tidy, how I struggled to feed my kids nutritious meals, to bathe them and clean them and keep them warmly dressed in clean clothing, to love them well or enough or well enough.

FEATURED VIDEO

Those years were some of the toughest years I have ever encountered.

But mama, I am here to tell you that it doesn't last forever. Slowly, incrementally, without you even noticing, it gets easier. First, one child is toilet trained, then the bigger one can tie his own shoelaces, then finally they are all sleeping through the night.

It's hard to imagine; I really really get it.

It is going to get easier. I swear it. I'm not saying that there won't be new parenting challenges, that it won't be the hardest thing you have ever done in your life. It will be. But it will get easier.

These days, all of my kids get the bus to school and back. Most of them dress themselves. They can all eat independently and use the toilet. Sometimes they play with each other for hours leaving me time to do whatever I need to do that day.

I sleep through the night. I am not constantly in a haze of exhaustion. I am not overwhelmed by three tiny little people needing me to help them with their basic needs, all at the same time.

I can drink a hot cup of coffee. I do not wish with every fiber of my being that I was an octopus, able to help each tiny person at the same time.

I am not tugged in opposite directions. I don't have to disappoint my 3-year-old who desperately wants to play with me while I am helping his first grade bother with his first grade reading homework.

And one day, you will be here too.

It's going to get easier. I promise. And while it may not happen today or even next week or even next month, it will happen. And you will look around in wonder at the magnificent people you helped to create and nurture and sustain.

Until then, you are stronger and more resilient than you can even imagine.

You've got this. Today and always.

Love,

A fellow mama

Life
Motherly provides information of a general nature and is designed for educational purposes only. This site does not provide medical advice, diagnosis or treatment.Your use of the site indicates your agreement to be bound by our  Terms of Use and Privacy Policy. Information on our advertising guidelines can be found here.