Post # 1
My husband and I decided recently that since we’re not planning on having children, we would like to start a 529 plan for each of our nieces and nephews that we will contribute to on their birthdays and holidays. We both feel that, especially since we don’t plan to have children to inherit our assets when we die, we would like to start building a nest egg to pass on to our nieces and nephews starting with helping to fund their college education.
Are any CBC people on the same page as we are on this? How do you guys feel about inheritances for your nieces and nephews?
Post # 3
@peasantsong: what a really lovely and thoughtful idea:)
Post # 4
A very nice thing to do. No, I have not nor plan to start college funds for nieces and nephews.
Post # 5
@peasantsong: im not cbc but that’s absolutely a great idea and such a nice gesture
Post # 6
Nope, as my parents will likely take care of an RESP for my side, and no one is ready for kids on DH’s side.
We don’t have any nieces or nephews yet, but I suspect once we all start getting older we’ll make them beneficiaries/include them in a will. I hope we’re still alive when they are in university!
Post # 7
I’ve thought about this but ultimately feel it is my sister’s responsibility. This is probably just stemming from her relying on my help too much in general.
Post # 8
I don’t have any if those! No siblings! i do have a baby cousin who is about 5. I shall not do anything for her college as she is, and will be, far wealthier than I.
Post # 9
That is an AWESOME idea! I am not having kids myself but I am SUPER close to my brother and his daughter. I might have to do this myself.
Post # 10
I don’t think its an option for us, between us we have 4 brothers and a sister. If they each had 2 kids that would just be too many to do it for.
Post # 11
We aren’t decided on the children topic yet but will likely have them. I have always joked though, that if we don’t have kids I’ll really start sucking up to nieces/nephew by doing things like paying for their college and taking them on cool trips abroad…all this in the hopes that they will be grateful and visit me when I’m old.
Mua ha ha ha!
I think what you’re doing is a lovely gesture!
Post # 12
@Baimee: your SO has no siblings either?
@Tigerlilybride: I definitely don’t mean to imply that I will be paying for their entire college education, lol. I just mean that instead of gifts or maybe in addition to gifts, I will put $200 in their 529 plans each birthday and holiday. It won’t be enough to cover much but it will certainly help!
Post # 13
DBF and I haven’t decided on kids yet, but even though we’re young, I could see us going either way. Although I like the idea of contributing to the school savings for nieces and nephews, I am pretty distant from my only niece because I feel like I’m growing apart from her mother, my sister. I wouldn’t be opposed to contributing to the account my parents set up for her in the future, though.
My brothers seem like they are unlikely to have children anytime soon, if at all. That especially goes for the only one I am close to; despite expressing an interest in settling down and having children, he has autism. Since he’s only beginning to make friends a month shy of 22, I don’t see him in a relationship for a loooong time. And DBF’s family comes from a younger family than mine, so it’d honestly be disturbing if he was an uncle through his brothers right now.
Post # 14
@peasantsong: Nope! Small families all around
Post # 15
Ha! before dh and I met he told his brother and sister in law that if their 16-yr-old got into MIT, he would foot the ENTIRE bill. I would love it if we could only be in that position!
Post # 16
@peasantsong: That does make sense. But we both want to be teachers and do missions, so still not an option!