The holiday season is upon us again. Families across the US will brave long lines, or in some cases, artificial ‘black markets’ on sites like eBay, to grab one of the newest, hottest toys of 2016 for their loved ones. This December scramble is becoming somewhat of a holiday tradition, yet most gift givers know that these presents, while they bring joy and smiles in the moment, are usually only played with for a few months before they’re old news.
So the question becomes, is there a better alternative to these ‘soon to be in the back of the closet’ gifts? The answer these days seems quite obvious. With college costs increasing at nearly double the cost of healthcare over the past 30 years, putting the money into a college savings fund is something that should be on every parent and grandparent’s mind this holiday season.
But how much could the price of one toy impact a child’s future college costs? Is it really worth doing the ‘prudent’ thing and putting the money into a 529 college savings plan? Let’s take a look at the 25 of the most sought after gifts this holiday season, and how much you could potentially save by making an annual contribution to a 529 plan instead. Simply click the item’s MSRP to reveal how much that yearly contribution can add up to over time!
1. Hatchimals
2. Nerf N-Strike Elite Terrascout Remote Control Drone Blaster
3. DreamWorks Trolls ‘Hug Time’ Poppy
4. Sky Viper V2400 HD Streaming Drone With FPV Headset
5. FurReal Friends Torch ‘My Blazin’ Dragon’
6. Furby Connect
7. Cozmo the Toy Robot by Anki
8. Playstation VR Headset for Sony PS4
9. Diamondback Lustre 20″ Bike
10. Play All Day Elmo
11. Yvolution Y Glider Deluxe Scooter
12. iPod Touch (16GB)
13. Step2 Upscale Party Time Kitchen
14. Interactive Remote Control R2 D2
15. Asus – Flip Touch-Screen Chromebook
16. Marvel Remote Control Hulk Smash Vehicle
17. Magformers Magnetic Building Construction Set
18. Power Wheels Wild Thing 12 Volt Battery
19. Imaginarium Metro Line Train Table
20. Xbox One S
21. LEGO Star Wars Resistance X-Wing Fighter
22. Powerup FPV
23. Hot Wheels AI
24. Nintendo Mario Kart 8 Quadcopter Drone
25. PS4 Pro
It’s really amazing how just a little bit of sacrifice can really add up over time. Sure, there may be a slight amount of disappointment at first, but as they say, they’ll thank you later.
*Click on the MSRP price to disclose growth of yearly contributions. All calculations assume yearly contributions of the item’s MSRP every year until 18 with a 6% rate of return.
