Kelly Palmer, Chicago | Child’s age: 2
I opened a 529 college savings account when my son was born and shared the contribution link with friends and family. (The plan will typically generate a direct link to your child’s gifting page so others can contribute but won’t give them the ability to access your account details such as the account balance). It took the pressure off us having to save during our child’s first year and shielded our house from an onslaught of toys and clothes our baby would grow out of quickly. We continue to share the link before our son’s birthday each year. For his coming birthday, he would be thrilled to open yet another firetruck toy, but someday he will realize a contribution to his 529 was a more valuable gift.