With the Christmas shopping done for this year, Iowa’s State Treasurer says it’s time to think of a more long-term gift for your kids. Treasurer Roby Smith says the latest toy or hot game may soon lose its luster.
He says you should think about starting or contributing to a college fund for your kids or grandkids. Smith oversees the state I-Save 529 plan that allows you to save money for educational expenses.
Smith says friends and family can also make a gift to your child’s education account.
Smith says there are several options for how the account invests the money.
Smith says you can deduct contributions to the I-Save 529 plan from your state income taxes. You can find out more about the plan at www.ISave529.com.
