When a grandchild arrives, it’s more than a joyful addition to the family — it can also bring new considerations for your retirement plan. In this episode of Kitchen Table Finance, Dave shares his own recent experience becoming a grandfather and how it’s shifted his financial focus.
Nick and Dave talk through Grandparents’ Retirement Plans:
Why Dave moved from contributing to his adult children’s Roth IRAs to funding a 529 college savings plan for his granddaughter.
The pros and cons of grandparents owning the 529 versus letting parents manage it.
How to avoid “overfunding” a college plan when multiple family members are contributing.
Why the Michigan 529 plan ranks among the top in the country — and how residents get an extra tax perk.
How 529 plan rules have evolved, making funds more flexible for K–12, trade schools, and even Roth IRA rollovers.
Balancing helping family with making sure your own retirement savings are on track first.
Dave also shares some lessons learned from starting his own kids’ 529 plans back in 2001 — and how even small, consistent contributions can add up over time thanks to compounding.
Whether you’re a new grandparent or just starting to think about how you want to help the next generation, this episode will give you practical, real-world insights you can put into action.
Subscribe to Kitchen Table Finance
Don’t miss an episode — subscribe to our YouTube channel for more friendly, down-to-earth financial advice: YouTube.com/@KitchenTableFinance
https://youtu.be/KGnNPiD_gf0
