Four different parents’ take on Florida Prepaid
Parents are resilient, adaptable, responsive. We have to be. Nobody can go from sound asleep to soothing, feeding, changing and swaddling a newborn faster than a mom. Nobody can clean a skinned knee, fix the Wi-Fi and tell a terribly punny joke like a dad. And nobody adapted to the ongoing challenges of the global pandemic more nimbly (and necessarily) than parents did in 2020. At Florida Prepaid, we are in constant amazement by the stories we hear of how our parents are setting their children up for future success and are happy to provide a bit of security in supporting that effort.
Giving new meaning to generational wealth
Renee Riu of Miami, recognized early on how valuable Florida 529 Prepaid Plans could be and snagged them the very first year they were offered. Now, as her youngest granddaughter is in fourth grade, her enthusiasm and appreciation for the program remains a constant in what can be a volatile economy.
“It gives me great peace of mind, especially in these troubled times to know that my family will be college educated and prepared for whatever the future holds,” said Riu. After all, there are two things that will never lose their value — a college education and the Florida 529 Prepaid Plan that helps a student secure it.
Something you can count on getting right
Parents of toddlers and younger children are usually just trying to make it to their next (probably short) stint of being awake while the kids sleep — trying to get a few things right while worrying they’re doing everything wrong. Allie Leweke, a contributor for Jacksonville Mom, loves that Florida Prepaid is foolproof. The kind of foolproof that sleep-deprived, over-committed, pandemic-surviving parents need.
“There is really just one important point I want to make sure you understand and that is — you can’t lose your investment in a Florida 529 Prepaid Plan. It doesn’t matter if your kid doesn’t go to college, winds up heading out of state (go Hoosiers!), or takes time off before matriculating. It doesn’t matter what they study or what their grades are or how much money you are or aren’t making,” she said.
Teacher knows best
“As an educator, I am grateful for this program and the flexibility it offers to parents across the State of Florida. Florida Prepaid changed my life and allowed me to be financially prepared before, during, and after college,” Krista Stanley, a 2016 graduate of Florida State University and Florida Prepaid plan holder, said.
Stanley was strategic in using her 4-Year University Plan to start at a Florida college and then transfer into Florida State University, graduating with money left to spare. The extra funds allowed her to flow into the next phase without worrying about debt, or her future.
Truly sound financial advice
We were thrilled to speak with portfolio manager, Dustin Heintz, about his choice to invest with Florida Prepaid. “Being a finance person, I have tremendous respect for the power of compounding interest: The earlier you do something, whether it’s retirement or saving for education, the better off you are,” said Heintz. “We’ve removed what could be a huge unknown — college tuition — and have locked in the cost with our Prepaid Plans. If you have the wherewithal to do it, you should do it immediately,” Dustin said.
If 2020 taught parents around the world anything, it’s that you do the best you can with the tools you’ve been given. Florida Prepaid exists to give parents important financial tools to save for the future, and the confidence you need to tackle college savings the best way you can.