Mia Samson has a few thousand dollars in a college savings account she’s been funding for years — even though she doesn’t yet have kids and may not end up giving them the money once they’re born.
The 28-year-old wealth advisor in Santa Monica was looking for another way to save after maxing out contributions to her Roth IRA, funding her 401(k) and feeling her brokerage accounts were in a good place. She started stashing leftover money in a 529 account, which allows money saved for education to grow tax-free, figuring she’d get a head start on affording college for her future children. Single at the time, Samson set herself as the beneficiary.