529 Savings Account Plans Hand Out Cash Tips to Help Tip the Scales in Their Favor

The recession hasn't been kind to the 529 savings account plans that many states offer. So now, here they are, trying to inject some fresh appeal into the whole idea. And they have a pretty great crowdpleaser of an idea too - it's free money. They are hoping that if they dangle enough money before families, they will tempt to enough of them to start investing with the state. And it'll be a great way for the state to come by a little extra cash.

So are they offering generous bonuses? Of course not - the states are cash-strapped. Still, in the state of Virginia, if you are a student who qualifies (with enough grades and finances), you get to put your hands on a $2000 bonus when you are ready for college. If you are a parent and you start your child's 529 savings account before his first birthday, you get an extra hundred dollars. It's the same in lots of states - Oregon, Rhode Island and others. These plans are doing so well attracting new families to the 529 fold that states all over the country are jumping in. In fact, the federal government is trying to bring in laws that make 529 plans a lot more worthwhile for everyone.

The states have other sources of motivation for doing this of course. For instance, states like Oregon have had quite a bit of bad publicity to do with how they lost a lot of their value in the stock market crash two years ago. They know that people don't really want invest with them anymore. A little $2000 tip, they hope, will tip the scales in their favor again. These are a great way too by which states can hope to clean up on the administrative fees they get to charge and also the money that's left over after they pay out whatever a college course needs for any given student. But apart from these reasons, the hope that 520 plans have a larger effect on the health of the state itself. They hope that students who graduate with the help of a 529 savings account will embark on life with less student debt. That will mean more money for better education and a better life. And that overall, contributes to the health of the state, they feel.

So should you bite when your state offers a plan like this? This certainly is a good time to get started thinking about a 529 savings account for your child. The markets look better each day, and there are many states that even offer savings account options. The administrative fees have dropped by about 10% too. In the end, you probably should pay attention to a little statistic when deciding on opening a 529 savings account for your child. Studies show that families that have 529 plan somehow end up saving a lot more for college didn't families that don't.

We Should All Be Against Age Discrimination

I never really thought much about age discrimination when I was younger. To me, that was something that happened to old people and in my short time on earth, I really did not know too many of those. My grandparents were already retired and seemingly quite content, and it just did not seem like that big of a deal. It was not until my father got laid off in his early 50s that I begin to understand that we should all be against age discrimination.

My father had never really been one to stick with a job, and I had always worried that it would eventually catch up with him. He was working at a sheet metal manufacturing plant, and was absolutely miserable, so he decided to quit. The problem was, he was 51 at the time, and as his savings started to run out, he became pretty desperate.

I don't think he realized that a lot of companies are not as likely to hire someone who is closer to retirement age, because they don't want to pay more money to someone with more experience, and they want to have someone who will be there for a longer time. While most companies like to talk the talk and come out against age discrimination, it has been my experience that most companies to not actually put that into practice.

It was sad for me to watch my father put in application after application to no avail. On those rare occasions that he actually got an interview, he almost always came home disappointed. He would say that he thought it went pretty well, but we knew that was mainly for our benefit. It was at that time that I realized how important it is that we work to end age discrimination, because my father did nothing wrong but was being punished because of something over which he had no control.

It was quite a relief when my father finally found a job with the local police department. I would talk to him occasionally about the need to come out against age discrimination, and he would typically just smile and thank me for my concern. I realized that he was just happy to have a job that he actually liked and enjoyed working.

I don't know if there is much that we can do about age discrimination as a society, but I do believe that if people point out that it is wrong and not acceptable, it will help a lot. If history is any indicator, when people agree that something is wrong and needs to be changed, it eventually does change.