Let’s get past the obvious first…college is expensive. As a parent of several small children, I’m looking for ways to save for college so my children don’t get burdened with a mountain of student loan debt–like myself. Or have to get a side job.
One college savings program you may consider using is UNest where college savings can grow tax-free and with automated investing.
To jumpstart your college savings plan, UNest is offering a $25 cash bonus as part of its New Year’s Resolution promotion.
*I don’t get any financial kickback if you signup for UNest using the $25 bonus link.
UNest Investment Account for Kids
Is one of your money resolutions this year saving more and spending less?
A UNest Investment Account for Kids can make it easy to save for college.
It’s possible to open a family account for up to five children.
Normally, you don’t get a cash bonus when joining UNest.
From January 27, 2021 to February 28, 2021, new families get $25 bonus cash.
UNest offers two different pricing plans.
The Regular Plan costs $3 per month and includes one child savings plan.
Friends and family can also make unlimited gifts.
You can also earn extra cash rewards by shopping through participating UNest Rewards partners.
The Family Plan costs $6 per month and includes up to five child accounts.
Choose this plan if you have multiple children to start saving for college. All other plan benefits are the same as the Regular Plan.
There are five different age-based investment plans. Parents may choose a more aggressive plan for younger children but a less-risky plan for teenagers.
Each plan invests in a basket of index ETFs managed by Vanguard that offer portfolio diversity. These ETFs have low fund expenses which allows more of your cash to invest instead of lining the pockets of the broker.
Parents can change investing plans at any time. It’s possible for the investments to grow tax-free when withdrawn for qualifying educational expenses.
If you want some motivation to save for college, this limited-time promotion is worth checking out. You have until the end of February 2021, to open a UNest account and get $25 bonus cash.
UNest’s fintech app helps parents save and invest in their children’s future. The company’s iOS and Android apps have achieved an outstanding level of success since becoming widely available across the United States in February 2020.
UNest demystifies the previously complex process of setting up saving plans for education and other important life stages with a paperless approach that takes only five minutes to set up.
UNest’s team has decades of experience as certified financial advisors, technologists, and entrepreneurs at financial industry leaders including Capital Group, Marqeta, Union Bank, and Acorns. UNest is a fully accredited and registered financial advisor regulated by the SEC.