Going to a 5 year old bday party, is 529 contribution a good gift?

[Anonymous]

Get a good book. You can never have too many books, they store easily and are great to donate to children’s charities or schools when the kids grow out of them. Nice classics in hardback. Check the NYC public library recommended list or similar for ideas. My kids adore getting books.

[Anonymous]

Anonymous wrote:Since the kid is turning 5 yrs old, you have to remember they are into tangible gifts. Giving a 529 is like telling trying to explain thermodynamics to them and, by the way, happy birthday buddy.

Do you have the kid's SSN? You'll need that for a 529 contribution.

If you're set on the 529, give that along with a small gift (Water Wow booklet, small puzzle, etc) so the kid has something to open.

+1

[Anonymous]

I would love a 529, cash or voucher gift. However, my 4 year old son would definitely prefer a gift. There are so many things he wants.
I suppose it depends on whom you are close to - If you're just close to the parents the money gift is fine. If you have a relationship with the child then a tangible toy gift is better at this age.

PS We give away a huge box of used toys to an orphanage every Christmas.

[Anonymous]

No No No

[Anonymous]

What you'll actually be giving is a check, because I think you need a SSN and a special form to contribute to someone else's 529.

I always buy books. If you know that the family has a college fund indicating it's for the college fund, but I would do that in addition to a small gift for the kid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Idk half the birthday parties I go to for the 5 and under set are "no present" parties.

I ignore those requests. Yeah, that's me.

Thankfully no one ignored my no present requests when we had them on the invites. DS has more then enough stuff, we didn't need to add more random stuff to the house. Then again, I always honored the no present request. We did have some people ask for food to be donated to a food bank or blankets for a dog shelter, we brought those things when asked.

Now that DS is having parties with about 6-8 kids, we are cool with gifts. He is inviting his friends and they know him well enough to give him presents that mean something to him. I was surprised by how much thought the 7 year olds put into his presents and how well they knew him. I probably shouldn't be, these are the kids he has over for play dates or does lots of activities with at Scouts.

I would not give a 529 contribution. I have no clue who has started a 529 plan and would hate to ask only to find out that the parents have not started a 529 and my gift causes some awkwardness. We have a a 529 for DS but he is an only child and we are a 2 income family. We have friends who are a 1 income family with multiple kids. I don't know what they are doing for college and I am not going to ask. I would find the question presumptuous.

It is different when his Grandparents send us gift money to contribute, they have asked the question and we answered it.

[Anonymous]

Unless it is 500 or more. Putting $35 into a college fund? Lol Get a book!

[Anonymous]

I wish my child's grandmas would contribute to his 529!

[Anonymous]

Anonymous wrote:Unless it is 500 or more. Putting $35 into a college fund? Lol Get a book!

That $35 will buy a text book when Jr is in college. We appreciate the money that the Grandparents put into DS 529 regardless of the amount. It all adds up.

Your attitude is the same reason why some people don't even set aside $20 out of each pay check into savings or a retirement plan. $20 a check might not seem like a lot on the face of it but it adds up over time and is $20 better then $0.

I just think that asking for the info to make a donation to a kids 529 when you are not family is a bit invasive. Write a check for the kid that the family can deposit in their account and add to the 529 if they want.

[Anonymous]

I always give toys or books at that age. Kids are excited about their birthdays and want presents. For my older nephews I now give cash. They can buy want they want, put it in savings, or some combination of both.

[Anonymous]

nice for the parents, but my kid just turned 5 and doesn’t really understand money. A $10 or $25 gift card to Target would be super exciting to him because he can put it towards a large Lego set.

[Anonymous]

You could do a gift card for something like Sweetfrog or Baskin Robbins, if the parents aren't anti-sweets. My daughter LOVES getting gift cards to those places because she knows that on some future day, she'll get a treat. And I don't mind, because who doesn't like frozen yogurt with sweet crap all over it?

[Anonymous]

As a parent I would LOVE it!

One less toy at a birthday party will go unnoticed. This type of contribution will make a big difference to the kid when he’s in college. Typically after HS graduation is when you look at the contributions and figure out a budget. I think it would be really meaningful for a HS senior to see “mom’s friend gave me nearly 1K for college! Wow!”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Idk half the birthday parties I go to for the 5 and under set are "no present" parties.

I ignore those requests. Yeah, that's me.

Yep for a 4 year old birthday we were invited to with “no present”, we gave a card with $30 cash. Written in card was happy birthday and gift for his 529 or college fund.

With regular birthdays the kids get a ton of presents so I love the idea of 529 gift. The child won’t even realize it’s 1 less present out of many and it’s 1 less clutter for the house.

If your house is that cluttered, stop buying stuff. Or, get rid of stuff.

We don’t buy stuff and we donate DC toys regularly. It’s obvious you don’t live in the city in a row house.

[Anonymous]

$50 or 100 amazon gift card.