‘I’m not wildly wealthy, but I’ve done well’: I’m 79 and have $3 million in assets. Should I set up 529 plans for my grandkids?

The Moneyist

‘I largely worked my way through school and believe that negatively impacted my grades’

Last Updated: June 7, 2025 at 6:30 a.m. ET
First Published: June 3, 2025 at 5:15 a.m. ET

Dear Quentin,

I am a 79-year-old grandfather of three grandchildren. We are thinking of setting up 529 accounts for each grandchild, who are now in the 8th, 9th and 11th grades. Should I do so now? My wife and I want to do what is best for our grandchildren. 

I largely worked my way through school and believe that negatively impacted my grades. My wife is supportive of these efforts. I am not wildly wealthy, but have done well. I have just under $3 million in assets. I might live another 10 years, plus or minus.