David Adefeso has a message for his fans regarding the year 1996. Back then, President Bill Clinton signed into law the Act that created 529 Plans with the hope that Americans would use the tax-efficient and amazing investment vehicle in order to save the kids’ college and high school expenses. Check out his message for fans and IG followers:
‘Happy 529 Day! On Aug 20, 1996, President Bill Clinton signed into law the Act that created 529 Plans with the hope that Americans would use this incredibly tax-efficient and amazing investment vehicle to save for their kids’ college and high school expenses,’ David began his message.
He continued and said: ‘Fast forward 24 years and the results are depressing…. 46 MILLION Americans currently owe a combined $1.6 TRILLION in student loans (approximately $35,000 per person), and almost 6.6 MILLION of those young Americans are in default on these loans….and thereby effectively locked out of achieving the American dreams of buying a house, setting up a small business or even starting a family!’
David also said: ‘Today, we celebrate these plans, not necessarily because we need yet another holiday to celebrate during this pandemic lockdown, but because we are confident in the fact that 529 plans are still the smartest, most effective and efficient way to educate your kids…..or to pay down your student loans if you already have one. So, to help celebrate this day and to help people understand the power these plans offer, my best friend and distant cousin, SOOTCHY THE DOLPHIN and I have decided to PUT OUR MONEY WHERE OUR MOUTH IS……Stay Tuned!’
https://www.instagram.com/p/CAzNx_wAZJN/
Tamar Braxton hopped in the comments to show love to her BF.
A follower posted: ‘I have started my daughter with her 529 plan since the day I received her SSN. My mom also helps contribute being as though she didn’t save for me. My daughter just turned 3 yrs old and the account already has nearly $6000 or more in it from me putting $100 a month and my mom matching it. So yes to that compound interest.’
Someone else said: ‘I have it for both of my girls now I need to know how to pay my student loans off.’
Another commenter posted this message: ‘I did not understand the importance of a 529 plan, so that’s why my daughter is in student loan debt. I cannot wait to hear how she can pay the loans off. I love your videos.’
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In other news, you may be aware of the fact that Tamar and David have a new series on YouTube called ‘Quarantined and Coupled’ – the latest edition was dedicated to the recent tragedy that involved George Floyd.
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