Are you a retiree or grandparent wondering how to help your grandchildren without forcing them down a traditional college path? Many families rely on 529 plans — but higher education is changing fast.
Since 2012, U.S. college enrollment has dropped by 3 million students (National Student Clearinghouse). Only 46% of parents believe a four-year degree is “very important” (Gallup, 2024). Meanwhile, skilled trades, tech bootcamps, and entrepreneurial ventures are growing rapidly.
If your grandchild chooses a non-traditional path, your rigid 529 plan could result in taxes and penalties — turning a gift into a burden.
Three Smarter Ways to Gift:
Cash Value Life Insurance: Flexible, tax-advantaged, and usable for anything — from college to a business launch. Over 60% of affluent families use it for multigenerational planning (LIMRA).
UTMA/UGMA Accounts: Simple custodial accounts that give young family members assets they can use for their dreams when they come of age.
Family Trusts: The gold standard for aligning money with meaning. Protect wealth while setting clear, purpose-based conditions.
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