Do-it-yourself educational resources and DIY projects for kids

Whether we’re investing in our children’s education or to promote intergenerational wealth transfers, there are many benefits to do-it-yourself educational projects and resources. A Case for Investing in the Future In October, “The million-dollar…

Do-it-yourself educational resources and DIY projects for kids

Whether we’re investing in our children’s education or to promote intergenerational wealth transfers, there are many benefits to do-it-yourself educational projects and resources.

A Case for Investing in the Future

In October, “The million-dollar college education,” the Washington Post announced its campaign urging Congress to provide a tax credit worth $10,000 a year per student to encourage college savings. It’s a noble attempt to meet the moral call for a college education, but The Post also explained how the money would add up to a “$800 billion investment that would add to the debt of a generation.” In other words, it would require students and their families to stop saving for other things, such as their retirement or a down payment on a home.

A Millennial’s Perspective

Given the recent changes in the tax code, I saw the tax break as a way to further subsidize an expensive lifestyle for kids. And it’s not unreasonable to assume that it would accelerate the burnout cycle for the next generation as parents leave them for years without a way to pay for college.

My parents invested heavily in me and gave me as much opportunity as I could handle. I am deeply grateful for their investment and also, at 41, marvel at how much everything I have earned is taken for granted. Because of this, I now cherish what I have and don’t seek out unnecessary treats.

Giving so much for free – instead of paying your taxes and seeking after high-priced anything and everything – is problematic. The difference between giving my own investments and a tax deduction is between having them under your roof and taking them with you. But I’m comfortable with having enough cash in the bank, or less, so I don’t have to worry about time in my standard of living diminishing.

My only concern about college savings plans is the amount of time required to build meaningful nest eggs. If they were designed with flexibility – like the Thrift Savings Plan, in which you can invest in whatever vehicles suit your needs – that might be a better option than a simple grant-of-income tax break.

What are some of your best DIY educational DIY tips?

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