Smart Money Milestone #8 is all about the kids.

This milestone focuses on intentionally saving and investing for your children’s future — whether that includes education, early adulthood support, or other long-term opportunities. And if you’re here, you’re not just ahead of the game… you’ve truly secured your own financial foundation first.

Why Kids’ Savings Come at Milestone 8

One of the most common questions we hear is:

“Why are kids all the way at Milestone 8 and not earlier?”

The answer is intentional — and important.

By the time you reach Milestone 8, you’ve effectively secured your own oxygen mask first. You’ve built stability, flexibility, and long-term momentum in your own financial life, which allows you to support your children without jeopardizing your own future.

Along the way, kids-related expenses were absolutely part of earlier milestones:

• Emergency funds and cash flow planning

• Paying down debt

• Boomerang goals that may have included childcare, housing, or family priorities

But Milestone 8 is different. This is where you focus on long-term investing for your child’s future, using specialized accounts and thoughtful strategy.

What “Saving for Your Kids’ Future” Really Means

This milestone is broad — and intentionally so.

Saving for your child’s future could include:

• Education funding

• Support for early adulthood milestones

• Long-term financial flexibility

• Optionality for an uncertain future

It’s not just about college — especially given how much higher education is evolving.

Navigating a Complicated Landscape

We are fully aware of how complex this milestone can be.

There are multiple account types, each with unique rules, benefits, and tradeoffs:

• 529 plans

• UTMA/UGMA accounts

• Newer government-sponsored programs

• Other state- and situation-specific options

To make things even more complicated:

• Rules vary state by state

• Tax treatment differs depending on location and use

• Regulations and incentives continue to evolve over time

Something that’s true for a 529 plan in one state may not apply in another. And what works well for one family may not be appropriate for another.

That complexity is exactly why this milestone exists — and why guidance matters.

Planning for an Uncertain Future

This video (and milestone) was created in 2025, and one thing is clear:
The future of education looks very different than it did even a decade ago.

If you have a child age 10 or younger, it’s reasonable to ask:

• What will college even look like?

• Will traditional education paths still dominate?

• How flexible do we need to be with these savings?

In some cases, that uncertainty may lead families to favor more flexible accounts like UTMAs. In others, the tax advantages of a 529 may still make sense — or a combination of strategies may be appropriate.

There’s no universal answer, and that’s okay.

Why Personalization Is Critical at This Stage

Milestone 8 is not a “set it and forget it” step.

The right approach depends on:

• Your child’s age

• Your state of residence

• Your income and tax situation

• Your broader financial plan

• Your values and priorities

This is where thoughtful planning and ongoing conversation become incredibly valuable.

The Bottom Line

Milestone 8 is about generosity — but not at the expense of sustainability.

By placing this milestone after you’ve secured your own financial future, you’re giving your children something even more powerful than money:

• Stability

• Optionality

• A strong example of intentional planning

If you’re already at Milestone 8 and want to talk through the best strategies for your family, we’re here to help. These are nuanced decisions, and having a trusted guide can make all the difference.

Have questions? You can contact Chris below!