It was a peaceful afternoon in our LTYM director/producer Facebook group. Until, that is, the subject of saving for college arose. These show-runners boldly challenge themselves and support each other to bring Listen to Your Mother to their cities while balancing busy lives, and they can handle everything the production season throws their way. Seriously, they’ve made it through bats in the theater, tornado warning lockdowns and surprise blizzards in May. Who knew what would finally prompt a freakout was the idea of planning to pay for college?
I was doing some calculations… and thinking it wasn’t adding up right. My oldest will be in 8th grade. I thought we had more time! Where did the time go? What are we going to do? – Stephanie
Where did the time go is right, Stephanie! You can’t see the look on my face because I’m in a fetal position on the floor. I have nine years before my oldest graduates, and it’s a big unknown. – Michelle
I’m still paying off my loans. Every time my husband mentions starting their college funds, I freak out! We have time, right? – Jen
I’m smiling and my eyes are vacant, because DENIAL – Ann
That was my winning strategy for years, Ann. STICK WITH IT, GIRL! – Melisa
I’m still paying off my loans too, but at this point, I’m hyperventilating about both college AND retirement. – Leigh Ann
Community college. And then the lottery. – Tracey
My eyes are wide and my head is telling me that maybe my kid needs to open up a lemonade stand this summer! – Phyllis
Uhhh 3 girls who will need bat mitzvahs…. college… and maybe weddings…. oy vey. – Erin
I’m going with Magical Thinking. At this point, it’s like my best bet. – Kate
Like The Jacksons, The Johnsons, The Crawfords, and The Conners, The LTYMers were FREAKING OUT. My sons are in grade school, and the children of our team members across the country range in age from newborn to teenaged and beyond. We all want to face the challenge of planning, but just the idea of getting started is so overwhelming.
But, thanks to our friends at T. Rowe Price’s CollegeSavingsChillout.com, and to their hilarious, refreshing, and demystifying children’s book for adults, it’s going to be okay.
Getting started is as easy as reading a fun book? Okay, this I can do. Like a favorite bedtime book, it put my mind at ease, made me smile, and gave me a few helpful but not overwhelming learning tools. For instance, I learned that you can invest in a 529 account and you don’t have to pay taxes on that money if you use it for higher education expenses including tuition, room and board, fees and supplies. Better yet, the money can be used not only at traditional 4-year-colleges, but also at culinary schools, community collages, or trade schools.
You can pick up a copy of EVERYBODY FREAKS OUT for $5 and Junior Achievement USA® will receive 100% of the proceeds from the sale of this book. Junior Achievement is the world’s largest organization dedicated to educating students about work readiness, entrepreneurship and financial literacy through hands-on programs.
Here’s another thing we’re freaking out about in the best kind of way: We’re thrilled T. Rowe Price is sponsoring LTYM to support the release of our 2014 show videos next week! Make sure you are following us on Twitter and Facebook to get updates–hundreds of amazing stories will soon be available! You can subscribe to our newsletter here, and follow T.Rowe Price here.
Visit CollegeSavingsChillout.com to learn more about getting a copy of EVERYBODY FREAKS OUT and to watch their video stories of parents getting started with college saving plans.
Thank you to CollegeSavingsChillout.com for easing our minds, raising money for a good cause, and supporting our 2014 video release!
Please note that a 529 plan’s disclosure document includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. You should compare these plans with any 529 college savings plans offered by your home state or your beneficiary’s home state. Before investing, consider any tax or other benefits that are only available for investments in the home state’s plan.
The availability of tax or other benefits may be conditioned on meeting certain requirements such as residency, purpose for or timing of distributions, or other factors, as applicable.