This is information specifically for WUNDERKIDS in the United States. If you are an international member of WUNDERKID, please disregard this.
The 529 Plan is a fund that allows you to save money specifically for higher education. This includes college, trade schools, art schools, grad school, and additional college expenses (certain room and board expenses, books, supplies, fees, and equipment required for enrollment or attendance), etc. This plan is AMAZING!!!! And we strongly suggest that you setup one because the wonderful part of this is if you use it for the above-mentioned expenses, it’s TAX FREE!!! That is huge and can make a sizable difference in the amount of money you earn. Below, you will see a rundown of what you need to do to setup one…it doesn’t take much time whatsoever and you’ll need a parent to do this with you if you are under 18.
Here is a list of the information you will need to sign up:
- About you (the beneficiary): Address, birth date, Social Security number
- About your successor: (the adult who’ll be in charge of the account. If you are 18 or older you do not need this): Birth date
- About your investments: (how your contributions will be invested): There are 4 different types of investment options. To get a better looks at the types of options go to https://www.ssga.upromise529.com/content/investments.html. We recommend the “Savings Portfolio” option. There is an initial fee of only $15 to open your account.
Go here to sign up! https://www.ssga.upromise529.com/ucftpl/uii529enroll/gettingStarted.do If you’re not going to college or have already covered those costs, you can still use those funds. In this case, however, you would be taxed on your earnings. We encourage you to use these funds to help you pursue your passion whether it’s used for getting studio space, buying supplies, or setting up for a gallery show ☺
If you have any further questions about the 529 Plan, here is a phone number to contact the site directly: 1 (800) 587-7305
Or go to: https://cdn.unite529.com/f/248/21630/7d/im.uprinv.com/rc/sr2/ucf/programDescription.pdf
As soon as your 529 is setup, you will see a button on the right hand side after logging in that invites you to use UGIFT. You will select this option and fill out the information to invite us to be able to send you money online (there are two options of using UGIFT online and via check…make sure to select online option). You’ll need to enter in our email address email@example.com to invite us. From here, UGift will send us the invite code and we will be able to make payments to you 🙂