In this episode, I’m opening up a conversation that hits close to home—how we, as grandparents and trusted adults, can help set up our grandkids for a stronger financial future.

I’ll admit something right up front: I didn’t open 529 plans for my grandchildren. At the time, I just wasn’t in a position to do it. But looking back, I wish I’d known more—and done more—to give them a solid financial head start.

That’s why I invited John Cooper, a Certified Financial Planner, to join me on the show. John breaks down how 529 plans really work (they’re more flexible than you might think!) and shares new ways these accounts can now roll over into Roth IRAs—a smart move for building long-term wealth.

But we don’t stop there. We talk about the many ways grandparents can help—whether that’s starting a savings account, talking about smart money habits, or just being open about financial ups and downs. It’s all part of teaching financial literacy in a way that sticks.

If you’ve ever wondered how to be a bigger part of your grandchildren’s financial journey—or how to talk to your own kids about it—this is the episode for you.

TAKEAWAYS:

• The recent changes in 2024 allow unused funds from a 529 plan to be transferred into a Roth IRA, providing a significant opportunity for long-term financial growth.
• Engaging young individuals in discussions about money management and investing can lay a solid foundation for their financial literacy and future success.
• Establishing a bank account with your grandchild can serve as an introductory lesson in saving and financial responsibility, fostering a deeper understanding of money management.
• Investment in stocks with grandchildren can provide a practical learning experience about the stock market, helping them understand how investments can grow over time.

LINKS:

To learn more about the Next Chapter Blueprint, email me at wendy@heyboomer.biz

Check out the Women Over 70 - Aging Reimagined podcast: womenover70.com

Learn more about Greenwood Capital or find resources at www.GreenwoodCapital.com. Boomer Banter is sponsored in part by Greenwood Capital Associates, LLC. Greenwood Capital Associates, LLC is an SEC Registered Investment Advisory firm with offices in Greenville and Greenwood, SC. As a fiduciary firm, Greenwood Capital is obligated to disclose any potential conflicts of interest with this arrangement. The host of “Boomer Banter”, Wendy Green, is a client of Greenwood Capital, and her show “Boomer Banter” has been compensated for her testimonial through Greenwood Capital’s sponsorship. Greenwood Capital is a Legacy sponsor at the stated rate of $2,600 for the 2025 calendar year.