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How are you planning for your child’s future?
That question takes on an entirely new meaning in light of the world’s current events. At a time where we should be celebrating graduates and planning summer vacations, most families are debating whether or not it’s even safe to leave their homes.
But please hear me when I say this: just because the future is uncertain doesn’t mean we cannot plan for our children’s future.
If history has taught us anything, it’s that this too shall pass, life will move on and we better be prepared.
Even though many of you turn to me for money advice, investments are an entirely different story. I may be a savings expert, but when it comes to growing wealth and investing, I too turn to the experts.
As the parent of two teenagers, I’ve fumbled my way through the years trying to prepare for their future. From setting up savings accounts for the cash they received in birthday cards to looking into college savings plans, I feel like I’ve dabbled in a little of it all. But now that my kids will actually need those funds for college in a few years, I’m wishing I had made a more organized effort.
Instead of lamenting over what could have been, I’ve learned during this quarantine to look ahead and create a new normal. Thankfully, I’ve discovered a product to help me save money for my kids’ future educational expenses that is more relevant than ever before: Scholar Raise.
What is Scholar Raise?
In a nutshell, Scholar Raise is a community-based, college saving platform that allows friends and family to contribute online.
The team behind Scholar Raise has demystified and simplified the process of setting up a 529 college savings plan. Their platform not only makes it easier to register for a state-run 529 plan, there is one key feature that sets it above any other plan I’ve found: you can easily share the plan with friends and family, allowing for collaborative savings.
Scholar Raise: The Shareable Savings Plan
So what exactly do I mean by a shareable savings plan? I’m glad you asked.
Long gone are the days of getting a check in the mail or even a gift card, for that matter. Today, everyone wants to operate electronically, both for ease and accountability. And that’s exactly what Scholar Raise offers.
Once you set up a Scholar Raise Account, you’ll receive an easily shareable link that you can send to friends and family via email or social media. That way, they can contribute easily and securely, knowing exactly where their funds are going and what it’s being used for. Everyone wins!
What Do I Need to Set Up a New Scholar Raise Account?
All you need for setting up a new Scholar Raise account is the information you’d find on your driver’s license, your child’s social security number and an online connection. Seriously. It’s that easy.
How Do I Set up a Scholar Raise Account?
Getting started with Scholar Raise is as easy as 1-2-3! You can set up a Scholar Raise Account in 3 simple steps in as little as five minutes by doing the following:
- Enter account owner information
- Enter scholar’s information
- Confirm the account
Why Scholar Raise?
What I loved from my very first encounter with Scholar Raise was how they empowered me to help my family without any shame. Lack of knowledge or funds can be a big deterrent for someone wanting to start saving for their child’s college fund. With Scholar Raise, neither is a factor.
Scholar Raise offers free accounts with no minimums, fewer hassles and more features than a state-run 529 plan you set up yourself. Their 529s have tax-free compounding interest that will not affect your FAFSA eligibility. Plus, the experts at Scholar Raise have wisely selected an age-based investment, so that your funds can grow up to six times faster than a savings account, with the investment getting more conservative the closer your child gets to needing to make a withdrawal to pay for college so as to protect your gains.
How to Contribute to a Scholar Raise Account
Contributing to a Scholar Raise account only takes clicking on the shareable link you received from a friend/family member and adding funds electronically (either from a credit card or bank account). And if you have never received a request to contribute to a Scholar Raise account, what are you waiting for? Let those you love know about their free accounts and encourage them to set one up for their child today.
Especially in this time of postponed (in-person) celebrations, the last thing you want is for someone you love to feel like you missed celebrating a big milestone in their life. Even if your family is one of the millions strapped for cash and you only have $5 to spend, the collaborative effects of Scholar Raise allow you to contribute toward an incredibly meaningful gift and still cheer your loved ones on from afar.
Imagine what your child could do if they graduated from college debt-free.
Think of the possibilities they could consider without the burden of excessive loan repayments.
Consider the collective pride that could be shared as a family knowing you did all you could to make a college education possible for your son, daughter, grandson, or even a niece.
All that and more is possible with the help of Scholar Raise.
So don’t wait any longer. Open your new, free Scholar Raise account today.
Because of the relationship I’ve built with Scholar Raise, CEO and Founder, Wesley Belden has offered to personally answer any questions you might have about college savings, Scholar Raise, or the sign-up process. Reach out to Wes at Wesley (at) ScholarRaise (dot) com
