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19:30:41  WOULD BE -- AND THIS IS A REALLY GREAT VISUAL.
I'M GOING
19:30:44  TO BE REALLY KIND OF PUSHED THROUGH SOME OF
19:30:47  THIS.
THIS ONE IS HIGHLIGHTING THE ADDITIONAL BENEFITS OR
19:30:51  OTHER BENEFITS THAT 529 PLANS OFFER.
19:30:54 
SO IN ADDITION, WE'RE STARTING AT THE TOP, WHERE OUR PICTURE OF THE WORLD
19:30:57  IS.
WE'RE GOING TO MOVE AROUND THE
19:31:01  CIRCLE TO THE RIGHT.
IN ADDITION TO WHERE YOUR KIDS
19:31:04  USE THEIR MONEY, REMEMBER PUBLIC, PRIVATE, COMMUNITY AND
19:31:08  VOCATIONAL SCHOOLS AND APPRENTICESHIP PROGRAMS AND WHAT
19:31:11  THEY CAN USE IT FOR.
529 PLANS ARE
19:31:14  A REALLY GREAT WAY FOR FAMILY AND FRIENDS TO BE
19:31:18  GIFTING TO YOUR CHILDREN OR TO THEIR OWN
19:31:21  GRANDCHILDREN, ESPECIALLY THIS TIME OF YEAR.
IT MAKES A
19:31:24  REALLY GREAT GIFT.
529 PLAN CONTRIBUTIONS
19:31:28  ARE CONSIDERED COMPLETED GIFTS TO THE BENEFICIARY.
THERE
19:31:31  MIGHT BE -- IT MAY BE
19:31:35  SUBJECTED TO SOME FEDERAL GIFT TAX, BUT IN REALITY, THE FIRST 15,000
19:31:38  -- THIS IS GOING TO BE A LOT OF INFORMATION HERE, BUT 
19:31:41 $15,000 OF GIFT MONEY THAT GOES TO A BENEFICIARY, AND THIS
19:31:46  IS FOR 2020, THE 
19:31:49 IRS COULD CHANGE THOSE FROM YEAR TO YEAR, IS
19:31:52  EXCLUDED FROM GIFT TAXATION.
IT IS UNDER A SPECIAL RULE
19:31:56  FOR 529 PLANS, AND YOU CAN
19:31:59  ELECT TO TREAT THE CONTRIBUTION UP TO 
19:32:02 75,000 AS IF YOU HAD APPLIED FOR THAT OVER A FIVE-YEAR
19:32:05  PERIOD OF TIME.
SO YOU CAN CONTRIBUTE TO IT ALL AT ONE 
19:32:09 TIME.
USUALLY THAT HAPPENS WHEN GRANDPARENTS CONTRIBUTE A LARGE SUM OF
19:32:12  MONEY ALL AT ONE TIME.
AND THEN THEY ARE
19:32:15  EXEMPT FROM THE GIFT TAX AND
19:32:18  CAN CLAIM THAT OVER A FIVE-YEAR PERIOD OF TIME.
19:32:21 
THERE'S SOME GOOD REASONS WHY GRANDPARENTS
19:32:25  MAY BE WANTING TO DO THAT AS WELL; RIGHT?
I WANT TO MAKE SURE THAT
19:32:28  I POINT OUT TOO, WA 529 THE STAFF INCLUDING ME WE DON'T
19:32:31  PROVIDE TAX ADVICE SO YOU WANT TO MAKE SURE YOU CONSULT
19:32:34  WITH A TAX ADVISOR FOR MORE INFORMATION ABOUT TAX INFORMATION.
SO
19:32:38  NOW WE'RE CONTINUING AROUND WITH SOME ADDITIONAL BENEFITS.
19:32:41 
YOUR KIDS HAVE TIME TO CONSIDER THEIR PLANS TOO.

19:32:44 JUST BECAUSE YOU'VE OPENED UP THIS ACCOUNT, THEY'VE
19:32:47  GRADUATED FROM HIGH SCHOOL, AND THEY ARE THINKING ABOUT WHAT THEY WANT TO
19:32:50  DO, TAKE YOUR TIME.
DON'T FEEL LIKE YOU HAVE TO
19:32:53  IMMEDIATELY DRAW THE MONEY OUT OF THE ACCOUNT.
YOU KNOW, YOU
19:32:57  REALLY WANT TO THINK ABOUT -- TALK ABOUT WITH YOUR KIDS WHEN
19:33:00  THEY'RE OLDER LIKE WHAT THEIR INTERESTS ARE SO THAT YOU'RE REALLY APPLYING
19:33:03  THAT MONEY TOWARDS AN EDUCATION THAT THEY'RE
19:33:06  REALLY INTERESTED IN.
OUR GEARS ARE GOING TO REPRESENT
19:33:10  THE FLEXIBILITY, THE ACCOUNT OWNER MAINTAINS CONTROL
19:33:13  OF THE ACCOUNT, SO THEY CAN TRANSFER IT TO ANOTHER
19:33:17  BENEFICIARY.
THEY CAN EVEN CHANGE THE BENEFICIARY
19:33:20  ON THE ACCOUNT.
AN EXAMPLE I WANT TO
19:33:23  GIVE YOU IS MARION MENTIONED
19:33:26  OR PATRICIA MENTIONED WHEN SHE INTRODUCED ME THAT I'M A PARENT.
MY
19:33:29  BOYS ARE GROWN UPS NOW.
THEY HAVE KIDS.
SO I HAVE THESE
19:33:32  GRANDCHILDREN NOW, AND WHEN MY BOYS STILL
19:33:35  HAD MONEY LEFT IN THEIR GET ACCOUNTS, I TRANSFERRED IT DOWN
19:33:38  TO MY GRANDCHILDREN AND GAVE THEM A LITTLE BIT OF A
19:33:41  HEAD START BECAUSE MY BOYS DIDN'T USE UP
19:33:45  ALL THE MONEY THAT HAD BEEN SITTING IN THEIR ACCOUNT.
THERE'S SOME FLEXIBILITY
19:33:48  THERE, RIGHT, IN HOW THE ACCOUNT OWNER
19:33:53  CHOOSING TO TRANSFER.
OUR GAVEL REPRESENTS THAT THE ASSETS ARE
19:33:57  PROTECTED FROM BANKRUPTCY.
OUR ARROW IS REPRESENTING WHAT
19:34:00  I'M GOING -- I'M DEMONSTRATING IS
19:34:05  WHAT'S CALLED A DIRECT VERSUS
19:34:08  ADVISOR TYPE OF PLAN.
DIRECT ARE TYPICALLY LOWER COST
19:34:11  BECAUSE YOU CAN OPEN ACCOUNTS DIRECTLY FROM THE 
19:34:14 PLAN; RIGHT?
BUT IF YOU PREFER TO WORK WITH A PROFESSIONAL FINANCIAL
19:34:18  ADVISOR, YOU MIGHT CONSIDER AN ADVISOR
19:34:21  SOLD PLAN.
THE TWO PLANS THAT WASHINGTON HAS THE GET PROGRAM AND
19:34:24  DREAM AHEAD ARE DIRECT SOLD PLANS, SO YOU CAN OPEN THEM
19:34:27  DIRECTLY.
YOU JUST GET THEM OPENED ON-LINE.
WE WILL TALK ABOUT THAT IN
19:34:30  A FEW MINUTES.
BUT WE DO ALWAYS ENCOURAGE PEOPLE TO
19:34:34  TALK TO A FINANCIAL PROFESSIONAL FOR
19:34:37  INVESTMENT ADVICE BECAUSE THEY ARE GOING TO BE ABLE TO LOOK AT YOUR WHOLE PICTURE
19:34:40  AND HELP YOU MAKE SOME DECISIONS THAT FIT
19:34:43  YOUR GOALS AND THE CHOICES THAT YOU'RE
19:34:46  MAKING.
THE ACCOUNT OWNER AGAIN RETAINS
19:34:50  CONTROL NO MATTER HOW OLD THAT BENEFICIARY IS.
THE ACCOUNT
19:34:53  OWNER CAN BE CHANGED AT ANY
19:34:56  TIME.
RIGHT?
MOST PLANS OFFER REALLY LOW 
19:34:59 MINIMUMS, SO IT IS REALLY ATTRACTIVE FOR PEOPLE AND
19:35:02  WE REALLY WANT TO ENCOURAGE PEOPLE TO START SAVING WHERE THEY'RE 
19:35:05 AT.
YOU KNOW, IT'S THE SAME CONCEPT WHEN YOU'RE SAVING
19:35:08  FOR YOUR RETIREMENT, YOU START WITH WHAT YOU CAN SAVE IN THE
19:35:11  MOMENT, AND THEN YOU PLAN ON HOW YOU BUILD
19:35:15  INTO THAT OR GROW THAT AND BUILD THAT UP.
AND THAT'S WHERE GIFTING FROM
19:35:18  GRANDMA AND GRANDPA AND FAMILY MEMBERS COMES IN REALLY HANDY TOO.
19:35:21 
THE GOAL IS REALLY HELPING YOU SAVE AND DO THAT IN A WAY THAT
19:35:25  WORKS BEST FOR YOU.
CONTRIBUTIONS CAN BE MADE
19:35:29  CONVENIENTLY THROUGH BILL PAY, PAYROLL DEDUCTION, IF YOUR EMPLOYER
19:35:32  IS DOING THAT FOR YOU, THAT'S SOMETHING WE CAN TALK ABOUT, IF YOU HAVE
19:35:35  AN EMPLOYER THAT YOU'D LIKE TO TALK TO
19:35:38  OR SHARE THIS INFORMATION WITH, AND EVEN AUTOMATIC TRANSFERS
19:35:41  FROM BANK ACCOUNTS, AND WE STILL HAVE A LOT OF FAMILIES,
19:35:44  ESPECIALLY GRANDPARENTS WHO STILL LIKE TO WRITE A CHECK AND MAIL
19:35:47  IT IN, AND THAT'S OKAY; RIGHT?
19:35:51 
WE WILL TAKE IT ANY WAY WE CAN.
THERE ARE NO
19:35:54  ACTUAL ANNUAL MINIMUMS OR MAXIMUMS, BUT YOU DO WANT TO CHECK
19:35:57  WITH THE PLAN THAT YOU HAVE TO BE SURE OF THE
19:36:01  OVERALL MAXIMUM CONTRIBUTIONS.
AND THAT WILL VARY
19:36:04  FROM PROGRAM TO PROGRAM.
AND THEN OF COURSE WE'RE GOING TO END
19:36:08  WITH OUR SHOOTING STAR, AND THAT IS
19:36:11  TO EMPHASIZE THAT SAVING IN A 529
19:36:15  PLAN IS ACTUALLY HAS THE MOST FAVORABLE TREATMENT WHEN IT
19:36:18  COMES TO FINANCIAL AID ELIGIBILITY.
THAT'S ANOTHER
19:36:21  MISCONCEPTION THAT PEOPLE HAVE HAD IS
19:36:24  THAT IF THEY SAVE MONEY OR THEY SAVE MONEY IN A 
19:36:27 529 PLAN, THEN THEIR KIDS WON'T BE ELIGIBLE FOR FINANCIAL
19:36:30  AID.
AND ACTUALLY THAT --
19:36:34  IT'S NOT ABOUT WHETHER THEY WILL RECEIVE FINANCIAL AID.
A LOT
19:36:37  OF TIMES IT IS REALLY ABOUT WHETHER THEY'RE RECEIVING
19:36:40  GRANTS OR WHETHER THEY'RE RECEIVING LOANS, 
19:36:43 RIGHT?
SO MONEY SAVED OFFSETS LOAN AMOUNTS, AND THIS
19:36:47  GOES ALL THE WAY BACK TO WHAT YOU GUYS MENTIONED IN
19:36:50  ONE OF THE POLLS IS BEING REALLY IMPORTANT
19:36:53  TO YOU, WHICH WAS WANTING TO PAY ATTENTION TO, YOU
19:36:56  KNOW, HOW
19:36:59  TUITION IS -- THE OVERALL STUDENT LOAN DEBT, NOT WANTING YOUR KIDS TO BE 
19:37:02 OVERBURDENED WITH STUDENT LOAN DEBT.
LET'S TAKE IT TO THE NEXT
19:37:06  SLIDE.
I'M GOING TO SPEND A --
>>
19:37:09  JACKIE, THERE WERE SOME QUESTIONS.
PATRICIA, DO YOU WANT
19:37:12  TO PULL THEM NOW
19:37:15  OR LATER?
>> WE CAN PULL THEM NOW.
19:37:19 
I CAN ASK JUST ONE SINCE IT'S RATHER SPECIFIC.
19:37:23 
>> OKAY.
>> CARA IS CURIOUS IF YOU COULD
19:37:26  ADDRESS ONE QUESTION FOR HER.
SHE SAYS I'VE HEARD THAT IT IS BETTER TO
19:37:29  OPEN AN ACCOUNT IN ANOTHER STATE BESIDES WASHINGTON THAT HAS BETTER
19:37:32  RETURNS.
COULD YOU ADDRESS THAT AND WHY WE WOULD
19:37:35  WANT TO CHOOSE A WASHINGTON ACCOUNT INSTEAD?
>> WELL, YOU 
19:37:38 KNOW, IT WOULD BE INTERESTING
19:37:42  TO KNOW LIKE WHERE THAT CAME FROM, RIGHT?
BECAUSE REMEMBER
19:37:45  BACKING UP TO THE TYPES OF PLANS, EACH STATE HAS
19:37:48  EITHER A SAVINGS OR A PREPAID, RIGHT?
NOW, WHEN WE'RE
19:37:51  JUST TALKING ABOUT THE SAVINGS TYPES OF 
19:37:55 529 PLANS, THERE MAY BE DIFFERENT FEES
19:37:58  THAT -- AND THAT'S PRETTY COMMON WITH THE SAVINGS 
19:38:01 PLANS.
THERE'S GOING TO BE INVESTMENT FEES AND MAINTENANCE
19:38:06  FEES FOR HAVING THE ACCOUNT, WITH DREAM AHEAD,
19:38:08  THERE'S A $35 MAINTENANCE FEE, AND THEN THERE'S A SMALL
19:38:12  PERCENTAGE OF INVESTMENT FEES.
THAT'S VERY COMMON.
YOU ARE NEVER GOING TO GET
19:38:15  AWAY FROM THEM.
SO SOME PEOPLE MIGHT -- IT'S A
19:38:18  GOOD IDEA TO LOOK AT WHAT ARE THE OTHER STATE
19:38:21  -- WHAT OTHER STATES HAVE PLANS AND WHAT ARE THEIR FEE 
19:38:25 STRUCTURES?
NOW, IT'S NOT ABOUT -- IT'S THE BEST IDEA TO
19:38:28  GO GET ONE FROM ANOTHER STATE.
19:38:34 
WHAT'S A GOOD IDEA
19:38:38  -- 
[INAUDIBLE] -- AND TO ALWAYS MAKE SURE THAT YOU ARE MATCHING THAT TO YOUR
19:38:41  GOALS TOO BECAUSE YOU CAN HAVE MULTIPLE 529 PLANS.
I'M
19:38:44  GETTING A MESSAGE THAT MY INTERNET CONNECTION IS UNSTABLE.
19:38:48 
I SURE HOPE THAT DOESN'T KICK ME
19:38:51  OUT OF HERE.
SO BEAR WITH US IF WE
19:38:54  DO -- IF I LOSE YOU, I WILL JUMP BACK ON AGAIN.
19:38:58 
SO TO ANSWER THE QUESTION AGAIN, I WOULD SAY DO A
19:39:01  LITTLE RESEARCH.
THIS IS A GREAT PLACE TO START.
TALK WITH A
19:39:05  FINANCIAL ADVISOR.
YOU KNOW, HAVE THEM LOOK AT WHAT IT IS THAT
19:39:08  YOU'RE LOOKING AT.
FEES
19:39:11  ARE GOING TO BE SOMETHING THAT YOU PAY ATTENTION TO.
THE DREAM AHEAD
19:39:14  PLAN ACTUALLY WAS JUST RECOGNIZED AS
19:39:18  BEING ONE OF THE TOP 529 PLANS
19:39:22  NATIONWIDE.
WE WERE -- I'M SAYING IT ALL
19:39:25  BADLY RIGHT NOW, BUT WE WERE AWARDED A BRONZE LEVEL, AND
19:39:29  THAT'S REALLY GOOD FOR A PROGRAM JUST BEING OPEN FOR LESS THAN THREE 
19:39:32 YEARS.
LOOK AT THE DIFFERENT KINDS OF FEE STRUCTURES,
19:39:35  AND I WOULD SUGGEST THAT THEY'RE PROBABLY PRETTY COMPETITIVE.
I
19:39:39  HOPE THAT HELPED.
ARE WE READY TO TAKE IT TO THE
19:39:42  NEXT -- TO THIS SLIDE?
OKAY.
AND I WILL REMEMBER I
19:39:45  WAS SUPPOSED TO TAKE PAUSES IN THERE.
I APOLOGIZE FOR
19:39:49  THAT.
SO I WANT TO DO A QUICK LITTLE OVERVIEW
19:39:52  OF GET AND DREAM AHEAD BECAUSE THAT WAS SOMETHING THAT WAS
19:39:55  IMPORTANT TO YOU ALL AS WELL, WAS TO UNDERSTAND THE
19:39:58  DIFFERENCE BETWEEN THE TWO.
NOW, AGAIN, GET IS
19:40:01  WHAT'S CALLED THE PREPAID PLAN.
DREAM AHEAD
19:40:04  IS OUR COLLEGE SAVINGS PLAN, WHICH IS AN 
19:40:07 INVESTMENT-BASED PLAN.
NOW, TYPICALLY WITH PREPAIDS,
19:40:11  THERE WILL BE A RESIDENCY REQUIREMENT, WHICH SIMPLY MEANS 
19:40:14 EITHER THE OWNER OR THE
19:40:18  BENEFICIARY LIVES IN WASHINGTON, WHEN THE GET ACCOUNT
19:40:22  IS BEING OPENED.
CAN CERTAINLY MOVE ANY TIME AFTER THAT.
19:40:25 
THERE'S AN ENROLLMENT PERIOD WITH PREPAID
19:40:27  PLANS.
THE GET PROGRAMS IS NOVEMBER THROUGH MAY.

19:40:30 YOU WILL SEE ON THE DREAM AHEAD SIDE, AND THIS IS TYPICAL OF THE
19:40:34  COLLEGE SAVINGS TYPE OF PLANS, TRADITIONAL INVESTMENT
19:40:37  PLANS, IS THAT THERE ARE NO ENROLLMENT
19:40:41  PERIODS AND NO RESIDENCY REQUIREMENTS.
THOSE ARE INDICATORS OF THE
19:40:44  TYPE OF 529 PLANS.
THEY ARE NOT THINGS THAT MAKE ONE PLAN BETTER
19:40:48  THAN THE OTHER.
AND THERE ARE ACTUALLY ONLY ABOUT 10 STATES
19:40:51  THAT HAVE ACTIVE ENROLLMENT PREPAID TUITION
19:40:54  PLANS, AND YOU CAN HAVE BOTH.
IN FACT, IT IS A REALLY GOOD WAY
19:40:57  TO HAVE DIVERSIFYING THE WAY THAT YOU'RE
19:41:01  SAVING BECAUSE WHAT'S UNIQUE ABOUT THE GET
19:41:04  PROGRAM CONTINUES TO BE THE GUARANTEE.
19:41:07 
SO WHEN THE STATE LEGISLATURE CREATED THE GET
19:41:11  PROGRAM, THEY WROTE IN TO LAW THAT THE
19:41:14  VALUE OF THE GET
19:41:19  ACCOUNT WILL KEEP UP WITH
19:41:22  THE TUITION GROWTH.
TUITION GROWTH IS PRETTY
19:41:25  TYPICAL.
SOMETIMES IT MAY BE SLOW GROWTH.
THERE HAVE BEEN TIMES IT'S BEEN
19:41:28  HUGE GROWTH.
I THINK ZOE YOU AND I WERE TALKING ABOUT THE PERIOD OF TIME
19:41:31  WHEN THERE WERE 20% TUITION INCREASES
19:41:35  IN THE STATE OF WASHINGTON AT THE UW AND WSU.
THE GET
19:41:38  PROGRAM, THE VALUE OF THE ACCOUNT IS KEEPING PACE WITH
19:41:42  THE TUITION GROWTH, EVEN THOUGH YOU CAN USE THAT MONEY WHEREVER YOUR
19:41:45  STUDENT CHOOSES TO GO.
YOU DRAW THE MONEY OUT, AND YOU CAN APPLY
19:41:48  IT TOWARDS EXPENSES WHEREVER THEY'RE GOING.
19:41:52 
NOW, YOU WILL NOTICE ON THE DREAM AHEAD SIDE, THE
19:41:55  VALUE OF THE ACCOUNT IS KEEPING PACE WITH THE INVESTMENT
19:41:58  PERFORMANCE, SO THAT'S A LOT LIKE YOUR RETIREMENT ACCOUNTS, 
19:42:01 RIGHT?
YOU PUT MONEY IN.
RATE OF RETURNS
19:42:04  FLUCTUATE.
KEEPING IN MIND THERE ARE
19:42:08  TIMES WHEN TUITION MAY BE GREATER GROWTH THAN INVESTMENT RETURNS,
19:42:11  AND OTHER TIMES THAT INVESTMENT RETURNS MIGHT BE GREATER
19:42:14  THAN TUITION GROWTH.
SO JUST TOSSING EGGS IN ONE
19:42:18  BASKET AND SAYING THIS IS THE ONLY THING TO
19:42:21  DO ISN'T A GOOD WAY TO DIVERSIFY.
19:42:24 
WE ALWAYS ENCOURAGE PEOPLE TO DO A LITTLE BIT -- A COUPLE OF DIFFERENT
19:42:27  THINGS BECAUSE THEN YOU'RE TAKING ADVANTAGE OF DIFFERENT OUTCOMES
19:42:30  AT DIFFERENT TIMES; RIGHT?
THERE'S NO RIGHT OR
19:42:33  WRONG WAY TO DO IT.
IT IS REALLY GOOD TO DO A COUPLE OF DIFFERENT 
19:42:36 THINGS.
THAT'S WHAT UNIQUE ABOUT GET.
IT WILL CONTINUE TO
19:42:39  HAVE THAT GUARANTEE.
NOW, THE PROGRAM WORKS ON WHAT
19:42:43  WE CALL A UNIT SYSTEM.
THIS IS ANOTHER THING THAT'S COMMONLY
19:42:48  CONFUSING TO PEOPLE.
THE UNITS ARE NOT THE SAME AS LIKE
19:42:51  A CREDIT HOUR THAT A STUDENT EARNS ACADEMICALLY WHEN
19:42:54  THEY'RE IN SCHOOL.
FOR US THE
19:42:57  UNIT REALLY IS JUST A FORM OF 
19:43:00 MEASUREMENT.
100 UNITS REPRESENTS ONE YEAR.
IT ALSO MEANS
19:43:03  THAT 100 UNITS WILL BE WORTH
19:43:07  ONE YEAR OF TUITION, WHEN YOUR STUDENT IS READY TO
19:43:10  DRAW THE MONEY OUT AND YOU'RE READY TO USE THAT MONEY.
NOW, WHEN
19:43:13  YOU OPEN UP A GET ACCOUNT, YOU CAN CHOOSE BETWEEN WHAT'S
19:43:16  CALLED THE LUMP SUM PLAN OR
19:43:20  CUSTOM MONTHLY PLAN.
LUMP SUM IS WHAT WE REFER TO AS A PAY AS
19:43:23  YOU GO.
YOU HAVE NO EXPECTATION OR REQUIREMENT
19:43:27  TO DO ANYTHING SPECIFIC.
YOU SIMPLY MAKE
19:43:30  DEPOSITS OR CONTRIBUTIONS INTO THE ACCOUNT WHEN YOU CAN.
WE
19:43:33  ENCOURAGE PEOPLE TO DEVELOP AND TO DETERMINE A
19:43:38  GOAL AND TO TRY TO AUTOMATE THAT CONTRIBUTION LIKE SETTING
19:43:41  IT UP ON AN AUTO PAY, OUT OF YOUR BANK ACCOUNT OR A
19:43:44  PAYROLL DEDUCTION SO THAT YOU'RE ALWAYS MAKING THIS CONTRIBUTION,
19:43:48  AND THEN LOOK AT IT ONCE A YEAR AND THINK ABOUT
19:43:52  CAN WE INCREASE THAT?
DO WE NEED TO TAKE PAUSES?
19:43:55 
GRANDMA AND GRANDPA CAN ALSO CONTRIBUTE
19:43:59  MONTHLY.
THEY CAN CONTRIBUTE BIRTHDAYS AND HOLIDAYS OR MILESTONE
19:44:02  YEARS.
THERE'S NO RIGHT OR WRONG IN HOW YOU'RE DOING 
19:44:05 THAT.
BUT LUMP SUM REALLY THE ADVANTAGE TO THAT IS THE FLEXIBILITY
19:44:08  TO DO WHAT YOU WANT WHEN YOU WANT.
19:44:12 
NOW, WE ALSO HAVE WHAT'S CALLED THE CUSTOM MONTHLY PLAN WHICH
19:44:15  IS A VERY STRUCTURED MONTHLY PAYMENT, SO YOU WILL -- YOU'RE
19:44:18  SELECTING NUMBER OF UNITS TO BUY AND
19:44:21  A PERIOD OF TIME THAT YOU'RE GOING TO PAY A MONTHLY PAYMENT, MAKE A
19:44:25  MONTHLY PAYMENT TO PAY THAT CONTRACT FOR THAT.
NOW OFTEN
19:44:28  TIMES WE WILL HAVE PEOPLE START WITH ONE AND
19:44:32  TRANSITION TO ANOTHER OR DO BOTH
19:44:35  SIMULTANEOUSLY AT THE SAME TIME AND HAVE A COMBINATION ACCOUNT.
NOW ON THE
19:44:38  DREAM AHEAD SIDE, IT IS VERY INVESTMENT
19:44:42  FOCUSED.
SO YOU'RE LOOKING AT A VARIETY OF PORTFOLIOS,
19:44:45  HOW YOU WANT THE MONEY INVESTED, AGAIN, RATE
19:44:48  OF RETURNS WILL FLUCTUATE.
NOW, ON THE
19:44:52  WEBSITES, THE MAIN WEBSITE BRANCHES OFF TO GET OR
19:44:55  DREAM AHEAD, YOU CAN GET TO THE
19:44:58  PORTFOLIO OPTIONS FOR DREAM AHEAD AND THE
19:45:02  CUSTOM MONTHLY PLAN AND THE UNIT
19:45:07  PRICE ON THE GET SIDE.
I DO WANT TO SAY TOO BECAUSE OF 
19:45:10 TIME, THERE'S A LOT MORE INFORMATION.
NORMALLY WHEN I GIVE THIS PRESENTATION,
19:45:13  IT'S AN HOUR LONG OF JUST 
19:45:16 THIS.
SO I DO DO THIS.
YOU CAN GO TO OUR WEBSITE
19:45:20  AND CHECK OUT OUR KNOWLEDGE CAFE, AND YOU CAN JOIN IN ANY ONE OF
19:45:23  MY WEBINARS LATER ON, AND WE CAN GO THROUGH A LOT MORE OF
19:45:26  THIS.
CAN YOU TAKE US
19:45:31  TO THE NEXT SLIDE?
19:45:33 
AND OH, OKAY.
ONCE YOU'RE READY TO TAKE THE MONEY 
19:45:37 OUT OF THE ACCOUNT, IT'S ACTUALLY AS
19:45:40  SIMPLE AS BILL PAY IS.
JUST LIKE WHAT WE DO RIGHT KNEW TO PAY OUR REGULAR
19:45:43  BILLS.
YOU LOG INTO YOUR GET OR DREAM AHEAD
19:45:46  ACCOUNT, AND YOU REQUEST A DISTRIBUTION.
YOU MIGHT TELL THE
19:45:50  PROGRAM TO PAY THE SCHOOL DIRECTLY, OR
19:45:53  YOU MIGHT HAVE PAID ANY EXPENSE OUT OF POCKET, 
19:45:56 TUITION, FEES, ROOM AND BOARD, BOOKS AND 
19:45:59 SUPPLIES, ANY QUALIFIED EDUCATIONAL EXPENSE YOU PAID OUT OF
19:46:02  POCKET, YOU CAN REQUEST TO BE REIMBURSED FOR THAT OR
19:46:05  EVEN TELL THE PROGRAM TO REIMBURSE THE BENEFICIARY.
19:46:09 
YOU DON'T HAVE TO DO
19:46:12  ONE OR THE OTHER OF THOSE CHOICES, YOU CAN DO ALL THREE.
19:46:15 
I ACTUALLY DID WHEN MY SON WAS IN COLLEGE HIS FIRST YEAR, I DID
19:46:19  REIMBURSEMENT TO MYSELF AFTER HE BOUGHT HIS BOOKS AND REQUIRED
19:46:22  SUPPLIES.
AND THEN I TOLD THE PROGRAM TO PAY THE SCHOOL DIRECTLY FOR
19:46:25  HIS TUITION AND FEES.
SO YOU CAN
19:46:28  USE IT.
YOU CAN PAUSE USING IT.
YOU REALLY HAVE TO
19:46:32  TREAT IT LIKE YOU WOULD ANY OTHER BILL THAT YOU'RE
19:46:35  PAYING FOR YOUR CHILDREN'S EXPENSES, AND THE SOURCE
19:46:38  IS LIKE YOUR ACCOUNT AND HOW YOU ARE GOING TO PULL IT OUT AND PAY FOR THOSE
19:46:46  EXPENSES.
NEXT SLIDE.
19:46:49 
MOST OF THE TIME PEOPLE HAVE ASKED WHAT
19:46:52  IF MY KIDS GET A SCHOLARSHIP?
WHAT DO I DO WITH THE 
19:46:56 MONEY?
I WILL TELL YOU RIGHT NOW THE
19:46:59  SCHOLARSHIP IS A WIN.
THAT'S EXCITING AND ENCOURAGING THAT YOUR KIDS WILL
19:47:02  APPLY FOR THEM AND GET THEM.
USE YOUR ACCOUNT FOR OTHER EXPENSES.
19:47:06 
AGAIN, ROOM AND BOARD, BOOKS AND SUPPLIES, HOLD ON TO
19:47:09  IT.
MAYBE THE STUDENT WILL NEED IT LATER.
GIVE IT TO ANOTHER
19:47:13  FAMILY MEMBER.
TRANSFER IT, RIGHT?
BUT YOU CAN ALSO REFUND IT.
19:47:16 
WE WILL TALK ABOUT THAT IN A MOMENT.
THE OTHER ONE THAT
19:47:20  COMES UP IS IF YOUR KID SAYS WELL I'M NOT GOING TO GO TO COLLEGE.
I
19:47:23  THINK THIS IS THE PERFECT PLACE TO TALK ABOUT, YOU KNOW, COLLEGE
19:47:26  IS NOT JUST A FOUR-YEAR PUBLIC OR PRIVATE 
19:47:30 INSTITUTION.
IT'S NOT THAT BUILDING THAT THEY
19:47:33  GO TO.
OF COURSE COVID-19 HAS TOLD US A LOT ABOUT WHAT A BUILDING IS
19:47:37  AND WHAT A COMMUNITY IS AND, YOU KNOW, HOW WE DO BUSINESS 
19:47:40 ANYMORE; RIGHT?
SO WHEN YOUR KIDS ARE
19:47:43  GRADUATING FROM HIGH SCHOOL AND ACTUALLY EVEN BEFORE THAT, WHEN THEY ARE STARTING TO TALK
19:47:46  ABOUT WHAT THEY'RE INTERESTED IN DOING, THAT'S WHEN YOU'RE GOING TO
19:47:49  START EXPLORING WHERE IT IS
19:47:53  THAT THEY WANT TO GO, SO
19:47:57  IMMEDIATELY THEY MAY NOT WANT TO HAVE A PURSUIT OF
19:48:00  A FOUR YEAR PRIVATE OR PUBLIC INSTITUTION, BUT THEY HAVE AN INTEREST IN
19:48:04  THE TRADES OR CERTIFICATE PROGRAM OR STARTING OUT AT A COMMUNITY COLLEGE AND
19:48:07  TRANSITIONING LATER.
THINK ABOUT THAT PART FIRST, YOU KNOW, WHAT DO THEY WANT
19:48:10  TO DO?
WHAT IS THEIR 
19:48:13 INTEREST?
BUT ALSO REMEMBER YOU CAN WAIT.
YOU'RE NOT A HURRY.
19:48:16 
YOU DON'T HAVE TO TAKE THAT MONEY OUT JUST BECAUSE THEY HAVE GRADUATED FROM 
19:48:19 HIGH SCHOOL.
TRANSFER IT TO ANOTHER FAMILY MEMBER
19:48:23  OR HOLD ON TO IT, AND LASTLY, WHAT I WILL SAY HERE
19:48:26  IS ABOUT REFUNDING BECAUSE IT'S IMPORTANT TO KNOW THAT WHERE
19:48:29  YOU'VE PUT IT, YOU CAN ALSO
19:48:33  GET IT BACK.
IF YOU EVER REFUND MONEY FROM A 529 
19:48:36 PLAN, REMEMBER I TALKED ABOUT REALLY EARLY HOW THE EARNINGS
19:48:39  PORTIONS IS GROWING TAX-FREE?
SO IF YOU REFUND
19:48:43  IT, THE EARNINGS PORTION NOW BECOMES TAXABLE.
19:48:46 
SO THE IRS WOULD ALSO ASSESS A 10%
19:48:49  PENALTY FEE ON THE EARNINGS PORTION.
19:48:52 
NOW THE PROGRAM DOESN'T PROCESS YOUR -- THE 
19:48:55 IRS'S TAXES AND PENALTY PIECE.
IN FACT, YOU WILL GET A TAX
19:48:58  FORM, IF YOU REFUNDED IT, IT WOULD COME OUT AS
19:49:02  YOU'RE DOING YOUR TAX RETURN, BUT YOU'D ALSO WANT TO MAKE SURE THAT
19:49:05  YOU'RE TAKING A LOOK AT THE PLAN THAT
19:49:08  YOU'VE CHOSEN, THEIR CANCELLATION AND REFUND POLICY
19:49:11  BECAUSE THE PLAN MAY ALSO ASSESS ADDITIONAL PENALTIES
19:49:14  AND FEES ON YOUR EARNINGS
19:49:17  -- OR ON THE ACCOUNT THAT YOU HAVE.
19:49:20 
WHAT'S IMPORTANT TO NOTE, THOUGH, REMEMBER YOU HAVE BEEN CONTRIBUTING 
19:49:24 MONEY AND THEN THERE'S BEEN EARNINGS; RIGHT?
WHEN YOU
19:49:27  REFUND IT, YOU ARE GETTING BACK YOUR MONEY.
THE IRS
19:49:30  ASSESSMENT FOR TAXES AND PENALTIES IS ON THE EARNINGS,
19:49:33  AND SO THERE WOULD BE ALSO THE PROGRAM MAY ASSESS SOME ADDITIONAL PENALTIES
19:49:36  AND FEES, BUT YOU WOULD GET BACK WHAT YOU'VE
19:49:40  PUT INTO THE ACCOUNT.
NOW, REAL QUICKLY, IF
19:49:43  YOU MOVE AGAIN I MENTIONED THAT YOU CAN STILL PUT MONEY IN
19:49:46  AND TAKE IT OUT NO MATTER WHERE YOU OR THE
19:49:49  BENEFICIARY IS LIVING OR THEY'RE GOING TO SCHOOL.
19:49:52 
OKAY?
AND IF YOUR FAMILY CIRCUMSTANCES EVER 
19:49:56 CHANGE, YOU KNOW, CALL IN, TALK TO THE PLAN THAT YOU HAVE,
19:49:59  TALK TO THE REPRESENTATIVE, AND THEY CAN LOOK AT
19:50:02  ACCOUNTS SPECIFICALLY AND HELP YOU WITH SOME DIFFERENT OPTIONS
19:50:05  IF YOU'RE THINKING ABOUT
19:50:08  CHANGING YOUR PLAN, IN REGARDS TO DREAM AHEAD, IF YOU ARE
19:50:11  LOOKING AT NEEDING TO EXPLORE OTHER
19:50:15  INVESTMENT OPTIONS AND PORTFOLIOS, THEY CAN
19:50:18  HELP YOU THROUGH THAT AND EVEN GIVE YOU SOME ESTIMATES ON A REFUND
19:50:21  IF YOU ARE THINKING ABOUT NEEDING TO FIND THAT INFORMATION OUT.
CAN
19:50:24  WE GO
19:50:28  TO THE NEXT SLIDE?
WE'RE WINDING DOWN.
PLEASE DON'T HESITATE
19:50:31  IF YOU HAVE MORE 
19:50:35 QUESTIONS, ANYTHING HERE?
>> JACKIE, WE ACTUALLY HAVE
19:50:38  QUITE A FEW QUESTIONS, SO IF YOU COULD ACTUALLY -- 
>> LET'S
19:50:41  JUST TAKE THE QUESTIONS BECAUSE I BET IT WILL COVER ALL 
19:50:44 THIS.
>> OKAY.
>> YEP.

19:50:47 >> OKAY, JACKIE.
AS MARION MENTIONED, WE HAVE QUITE A FEW.

19:50:51 >> OKAY.
>> I WILL DO MY BEST TO GO THROUGH
19:50:55  AS MANY AS WE CAN.
A LOT OF QUESTIONS ARE COMING
19:50:58  IN ABOUT CONTRIBUTIONS.
SO FOR EXAMPLE, DREW ASKS WHAT IS A
19:51:01  REALISTIC GOAL TO SAVE FOR AND HOW CAN WE PLAN TO
19:51:04  ACHIEVE THAT GOAL?
>> WELL, ALWAYS I 
19:51:08 REMIND PEOPLE THAT THE MOST REALISTIC GOAL IS TO START
19:51:11  WITH WHAT YOU CAN AFFORD TO DO RIGHT NOW.
YOU KNOW, I
19:51:14  LOVE THE ANALOGY OF A PENCIL, LIKE MAKING
19:51:17  YOUR PLAN AND USING A PENCIL TO MAKE THAT PLAN
19:51:20  BECAUSE THE PENCIL HAS AN ERASER, AND YOU CAN ALWAYS CHANGE THE PLAN.
19:51:24 
SO IT'S ALWAYS A GOOD IDEA TO
19:51:27  START EXACTLY WHERE YOU ARE AT.
KNOW WHAT YOU CAN
19:51:31  AFFORD.
ONE OF MY SONS IS REALLY YOUNG STILL.
HE'S IN HIS MID
19:51:34  20s, HAS TWO CHILDREN, AND THAT'S EXACTLY THE SAME THING
19:51:37  I SAID TO HIM IS YOU KNOW, DON'T THINK SO FAR
19:51:40  OUT HERE.
THINK ABOUT WHAT YOU CAN DO 
19:51:43 TODAY, BUT HAVE THE PLAN TO INCORPORATE MORE.
19:51:46 
AND THE MORE YOU START TO DO THAT, AND START
19:51:49  TO SEE AN ACCOUNT BUILD, THE
19:51:52  MORE PEOPLE THEN REALIZE LIKE IN THEIR OWN
19:51:55  CIRCUMSTANCES OR THEIR OWN BUDGETING PLANS AND HOW THEY'RE ASSESSING
19:51:58  THAT, THEY START TO SEE THAT THEY'VE GOT SOME DISPOSABLE INCOME THAT
19:52:02  THEY WANT TO BE PUTTING INTO A COLLEGE SAVINGS PLAN.
19:52:05 
SO WE ALSO HAVE TOOLS ON OUR WEBSITE.
THERE'S A
19:52:09  CALCULATOR THAT HELPS PEOPLE, YOU KNOW, MAKE SOME PLAN
19:52:12  AND DECISION ABOUT HOW MUCH TO SAVE BASED ON THE GOALS THAT
19:52:15  THEY HAVE.
KEEPING IN MIND, YOU KNOW,
19:52:18  YOU MIGHT HAVE ONE CHILD NOW, AND THEN MORE WILL BE 
19:52:21 COMING, SO YOU WANT TO BUILD IN SOME WAY OF HAVING THAT KIND OF
19:52:25  EXPECTATION.
HOW WILL YOU STILL BE ABLE TO DO THAT?
19:52:28 
BUT ALWAYS STARTING RIGHT WHERE YOU'RE AT IS THE
19:52:33  BEST THING TO DO.
>> THANK YOU, JACKIE.
WE ALSO
19:52:36  RECEIVED A LOT OF QUESTIONS PERTAINING TO 
19:52:39 GEOGRAPHY, SO AS AN
19:52:42  EXAMPLE, ARIEL ASKED IF WE'RE PLANNING TO MOVE OUT OF STATE
19:52:45  QUITE SOON, WHAT ARE THE IMPLICATIONS OF STARTING A COLLEGE
19:52:48  SAVINGS PLAN HERE IN WASHINGTON IF MOST OF THE
19:52:52  CONTRIBUTIONS WILL THEN BE COMING WHILE LIVING
19:52:56  IN A DIFFERENT STATE?
>> THE ONLY THING THEY WOULD NEED TO
19:52:59  KEEP IN MIND IS SPECIFICALLY REGARDING THE GET PROGRAM AND
19:53:03  REALLY IT'S JUST ABOUT REMEMBERING THAT THE VALUE OF THE GET
19:53:06  ACCOUNT
19:53:09  WILL KEEP UP WITH UW
19:53:13  AND WSU'S TUITION GROWTH NOT IN OTHER STATES.
WITH THIS
19:53:16  PARTICULAR PERSON, THE ENCOURAGEMENT WOULD BE, YOU 
19:53:19 KNOW, HAVING A GET ACCOUNT IS STILL A GOOD THING, RIGHT, IF EVEN THEY ARE PLANNING
19:53:22  ON MOVING, SO THEY CAN STILL CONTRIBUTE TO IT, THEY CAN STILL WITHDRAW
19:53:25  FROM IT NO MATTER WHERE THEY ARE LIVING, BUT I THINK THAT ONE
19:53:28  OF THE BEST THINGS THAT THEY COULD BE DOING IS THINKING
19:53:31  ABOUT POTENTIALLY IF IT'S MORE LONG-TERM THAT THEY ARE GOING TO LIVE SOMEWHERE
19:53:35  ELSE, THERE'S A RESOURCE THAT'S
19:53:38  PART OF THE -- 
IN THE SLIDE DECK THAT THEY WILL
19:53:41  SEE IT IS CALLED THE COLLEGE SAVINGS PLAN NETWORK.
IT IS AN INDEPENDENT
19:53:44  SOURCE OF ALL 529 PLANS NATIONWIDE.
AND
19:53:47  YOU CAN TAKE A LOOK AT WHAT THE OTHER STATES HAVE RIGHT NOW, SO
19:53:51  IT'S A GOOD RESEARCH POINT FOR YOU TO THINK ABOUT LIKE
19:53:54  WHAT PLAN IS AVAILABLE IN THE STATE THAT I'M MOVING TO
19:53:57  AND HOW DOES THAT COMPARE WITH THE WASHINGTON
19:54:00  PLANS, AND THEN YOU CAN SEE IF YOU'RE COMFORTABLE WITH THE WASHINGTON PLANS YOU GO GREAT,
19:54:03  I WILL DO THAT EVEN THOUGH WE'RE MOVING.
AND AGAIN, PEOPLE CAN
19:54:07  HAVE MULTIPLE PLANS.
YOU CAN HAVE
19:54:10  ONE FROM EVERY STATE IF YOU
19:54:13  WANTED TO.
WE HAVE EVEN SEEN WHERE ONE GRANDPARENT HAS A 
19:54:16 529 PLAN FROM ANOTHER STATE.
ANOTHER
19:54:19  GRANDPARENT -- I SHOULD JUST TELL YOU IT WAS MY
19:54:23  OWN EXPERIENCE.
WHEN MY FIRST GRANDCHILD WAS BORN, THE OTHER
19:54:26  GRANDPARENTS HAD 529 PLANS FROM ANOTHER STATE, THE COLLEGE SAVINGS
19:54:29  PLAN, NOT THE PREPAID TYPE, FROM ANOTHER
19:54:32  STATE BECAUSE WE DIDN'T HAVE DREAM AHEAD AT THE TIME, AND
19:54:35  THEY HAD OTHER GRANDCHILDREN.
SO THEY HAVE
19:54:38  THAT FOR MY GRANDSON.
HE WAS MY FIRST.
I
19:54:42  OPENED UP A GET ACCOUNT FOR HIM.
THE SAME BENEFICIARY CAN BE NAMED
19:54:45  AS A BENEFICIARY ON MULTIPLE 529 PLANS.
SO THEY DON'T
19:54:48  HAVE TO FEEL LIKE THEY HAVE TO STAY HERE.
19:54:51 
OR USE WASHINGTON'S OR NOT USE WASHINGTON'S.

19:54:54 IT IS GOING TO BE A GOOD WIN
19:54:57  NO MATTER WHAT.
>> THERE'S QUITE A FEW MORE.
19:55:00 
>> OKAY.
>> AS YOU CAN IMAGINE.

19:55:03 >> I CAN.
>> SO ANNA IS WONDERING WHAT ARE THE MINIMUMS
19:55:07  TO CONTRIBUTING?
>> OKAY.
SO WITH DREAM 
19:55:11 AHEAD, THE MINIMUM CONTRIBUTION IS $25
19:55:15  WHEN THEY MAKE THEIR FIRST CONTRIBUTION INTO DREAM
19:55:18  AHEAD.
AND THEN ANY ONGOING 
19:55:21 CONTRIBUTIONS, IT HAS TO BE AT LEAST $5 PER
19:55:24  PORTFOLIO.
SO LET'S SAY THEY PICKED FIVE --
19:55:27 
FOUR DIFFERENT PORTFOLIOS, IF THEY WERE DOING $5
19:55:31  IN EACH ONE OF THEM, IT WOULD BE A TOTAL OF 
19:55:35 $20; RIGHT?
SO 25 THE FIRST CONTRIBUTION, AND THEN AT
19:55:39  MINIMUM $5 FOR ONGOING ONES.
NOW, ON THE GET
19:55:42  SIDE OF THE HOUSE, WITH A LUMP SUM 
19:55:45 PLAN, YOU HAVE TO
19:55:48  PURCHASE AT LEAST ONE UNIT IN THE FIRST 90 
19:55:52 DAYS.
THERE'S A UNIT PRICE EVERY YEAR.
THIS YEAR IT IS
19:55:55  133 A UNIT.
AND I HOPE I GOT THAT
19:55:58  RIGHT BECAUSE I SAY IT SO RARELY.
133
19:56:01  A UNIT, AND SO THEY HAVE TO GET AT LEAST
19:56:04  133 DEPOSITED INTO A
19:56:07  GET ACCOUNT WITHIN THE FIRST THREE MONTHS.
THIS IS A GREAT
19:56:10  TIME TO BE TELLING GRANDMA AND GRANDPA
19:56:14  HELP US GET THAT ACCOUNT OPENED UP.
I'VE
19:56:17  DONE THIS WITH MY GREAT NIECES AND NEPHEWS IS
19:56:20  GIVING THEM THE SEED MONEY TO GET THE FIRST UNIT PURCHASED IN THEIR FIRST 90
19:56:24  DAYS.
IT IS A REALLY GREAT WAY TO DO
19:56:27  THAT.
AND THEN OF COURSE ONGOING IS WHAT THEY CAN AFFORD AND
19:56:32  WHAT THEY CAN WORK WITH.
>> JACKIE, YOU JUST BROUGHT
19:56:36  UP A FAMILY AND CORA HAD THE QUESTION WHICH TIES INTO THIS QUITE
19:56:39  WELL, DO YOU HAVE SUGGESTIONS ON HOW WE CAN TACTFULLY
19:56:42  REQUEST THAT FRIENDS AND
19:56:45  FAMILY CONTRIBUTE TO A COLLEGE SAVINGS PLAN VERSUS GIVING
19:56:49  TOYS OR OTHER KINDS OF GIFTS?
>> YES, ACTUALLY ON OUR
19:56:52  WEBSITE, WE HAVE A LINK THAT SAYS GIFTING AND A
19:56:55  LOT OF RESOURCES AND TOOLS THERE, EVEN HOW TO TACTFULLY
19:56:59  ASK.
[LAUGHTER]
BUT I WILL TELL YOU TOO -- I'M A
19:57:02  GRANDPARENT NOW, AND I WILL TELL YOU FROM A GRANDPARENT 
19:57:06 PERSPECTIVE, I WANTED MY KIDS TO TELL
19:57:09  ME, YOU KNOW, LIKE WHAT WAS IMPORTANT TO THEM.
I WANTED
19:57:12  TO SUPPORT WHAT WORKS FOR THEM, AND I
19:57:15  ALSO WANTED TO BE ABLE --
19:57:18  I HAVE MY OWN VOICE IN THIS TOO AND I WANTED TO TELL THEM THIS IS
19:57:23  WHAT I WILL DO.
WHAT WE HEAR
19:57:27  BACK FROM PEOPLE IS THAT IT ACTUALLY ISN'T VERY DIFFICULT TO TELL THEIR
19:57:30  FAMILY ABOUT THE GIFTING OF THAT BECAUSE THEY ARE
19:57:33  TELLING THEM WE WANT LESS STUFF FOR THEM.
THANK YOU FOR THINKING
19:57:36  OF OUR CHILDREN.
WE LOVE THAT YOU LOVE THEM SO MUCH TO
19:57:39  GIVE THEM SOMETHING, BUT THIS IS WHAT'S IMPORTANT TO US, AND
19:57:42  SO A LITTLE BIT HERE AND A LITTLE LESS
19:57:45  OF THE TOYS WILL REALLY HELP THAT 
19:57:48 GROW.
A GIFT OF EDUCATION WILL NEVER GO TO WASTE,
19:57:51  AND IT WILL ALWAYS BE VALUABLE.
AND THAT'S PROBABLY THE BEST
19:57:57  WAY YOU CAN SAY IT.
WE'VE GOT 
19:57:59 RESOURCES.
[LAUGHTER]
>> OKAY.

19:58:03 I'M GOING TO TRY TO SQUEEZE TWO MORE.
>>
19:58:06  OKAY.
>> WHAT IS THE ADVANTAGE OF USING A 
19:58:10 529 OVER SOMETHING LIKE A ROTH IRA?
19:58:13 
>> GOOD QUESTION.
AND
19:58:16  NOW I WOULD EMPHASIZE THAT ROTH IRAs ARE INTENDED FOR RETIREMENT,
19:58:19  SO IF IT IS USED FOR EDUCATION, IT IS NOT THERE FOR RETIREMENT.
19:58:22 
THAT'S AN OBVIOUS THING, BUT IT IS NOT REALLY ABOUT SHOULD I DO THE
19:58:26  ROTH OR SHOULD I DO THE 529 PLAN?
IF YOU CAN FIND A WAY TO DO
19:58:29  A LITTLE BIT OF BOTH, IT'S A REALLY GOOD
19:58:32  SET-UP, RIGHT?
BUT ONE OF THE OTHER
19:58:36  ADVANTAGES TO A 529 PLAN THAT IS NOT NECESSARILY AN
19:58:39  ADVANTAGE WITH THE ROTH IRA, IN THIS
19:58:42  EXAMPLE, IS THAT 529
19:58:45  PLANS, WHEN THE PARENT OWNS THAT 529 PLAN,
19:58:48  IT IS CONSIDERED A PARENTAL ASSET WHEN THEY'RE
19:58:53  FILLING OUT THE FASFA FORMS WHERE MONEY
19:58:56  IN THE ROTH IRA WILL BE CONSIDERED UNTAXED INCOME TO THE 
19:58:59 STUDENT.
SO IT IS A DIFFERENCE BETWEEN WHAT THE STUDENT MIGHT BE
19:59:03  ELIGIBLE FOR IN TERMS OF NEED-BASED
19:59:06  FINANCIAL AID BECAUSE ASSETS ARE TREATED DIFFERENTLY THAN INCOME,
19:59:09  AND THEY'RE MORE FAVORABLE, SO WE ALWAYS
19:59:12  TELL PEOPLE ONE OF THE BEST
19:59:16  PLATFORMS YOU CAN HAVE FOR YOUR COLLEGE SAVINGS GOALS IS A
19:59:19  529 PLAN AND DO SOME OTHER 
19:59:22 THINGS, BUT HAVE THOSE ALONGSIDE YOUR 529
19:59:25  PLAN, NOT
19:59:30  AN IF OR.
I HAVE SOME RESOURCES FOR THAT TOO.
OF COURSE I 
19:59:33 DO; RIGHT?
[LAUGHTER]
>> OKAY.

19:59:36 LET'S DO ONE MORE HERE.
19:59:39 
SORRY.
THERE'S SO MANY HERE.

19:59:42 LET'S GO TO SOMETHING THAT'S REALLY DREAMING BIG, SO MANDY
19:59:45  IS WONDERING IF, FOR EXAMPLE, THE U.S.
19:59:48  HIGHER EDUCATION BECAME FREE OR NEAR FREE BY THE TIME THE CHILD ENTERS COLLEGE,
19:59:51  WHAT WOULD HAPPEN TO THE FUNDS WITHIN THESE PLANS?
>>
19:59:54  THAT'S A GOOD QUESTION TOO, AND IT ACTUALLY
19:59:57  IS LIKE A CONVERSATION THAT PEOPLE HAVE BROUGHT UP FOR 
20:00:00 YEARS.
I'VE HEARD IT FOR A LONG TIME.
NOW, THE FIRST
20:00:04  THING THAT WE WOULD TELL YOU IS THAT, YOU KNOW, WE CAN'T
20:00:07  PREDICT THE FUTURE.
JUST LIKE
20:00:10  ANYONE ELSE AND ANY OTHER KIND OF INVESTMENT THAT SOMEBODY
20:00:13  WOULD BE MAKING, IT WOULD STILL BE -- WE WOULD STILL BE
20:00:17  LACKING THE OPPORTUNITY TO PREDICT THE 
20:00:21 FUTURE, BUT IN THE EVENT THERE WAS EVER FREE 
20:00:24 TUITION, THERE ARE STILL OTHER EXPENSES THAT COME ALONG WITH PAYING FOR A STUDENT'S
20:00:27  HIGHER EDUCATION.
REMEMBER WE TALKED ABOUT ROOM AND BOARD,
20:00:30  BOOKS AND REQUIRED SUPPLIES, SO THERE'S GOING TO BE OPPORTUNITY
20:00:34  TO STILL SPEND THAT MONEY.
REMEMBER
20:00:37  WE'RE THINKING IF OUR KIDS -- SOME OF OUR KIDS MAY PURSUE
20:00:40  MASTERS OR GRADUATE PROGRAMS AND NEED TO BE GOING ON, SO THERE'S STILL
20:00:43  GOING TO BE VALUE IN HOW YOU ARE USING THAT MONEY OR WHERE THE STUDENT IS GOING TO
20:00:47  USE IT, SO I'D START WITH THAT, AND
20:00:50  THEN I WOULD ALSO SAY, YOU KNOW, WE KNOW THE FACTS
20:00:53  OF THE PROGRAM, PARTICULARLY, YOU KNOW, WE KNOW HOW GET WORKS.
20:00:56 
WE KNOW HOW DREAM AHEAD WORKS.
WE UNDERSTAND THE CONCEPT OF
20:01:00  529 PLANS IN GENERAL.
IF THERE WAS SOME NEW 
20:01:03 THING, REALLY WONDERFUL AS IT WOULD BE, THAT TUITION
20:01:08  WOULD BE FREE, I WOULD LOVE THAT TOO; 
20:01:10 RIGHT?
I HAVE GRANDCHILDREN TO THINK OF THEIR FUTURE AS WELL.

20:01:13 AS THAT WOULD BE, WE WOULD TAKE DIRECTION, YOU KNOW,
20:01:16  THE STATE WOULD CERTAINLY PROVIDE SOME DIRECTION ON WHAT NEEDS
20:01:19  TO HAPPEN, AND SO WE HAVE TO WORK WITH FACTS
20:01:22  AT THAT TIME TOO.
SO REMEMBER THE THIRD THING I WILL
20:01:26  POINT OUT THERE IS REMEMBER THE CANCELLATION, 
20:01:29 REFUND, THAT I TALKED ABOUT.
AS YOU ARE SAVING THIS MONEY,
20:01:32  REMEMBER IT IS GROWING.
SO EVEN IF YOU REFUNDED 
20:01:35 IT, YOU KNOW, THE IMPACT OF A 
20:01:39 REFUND ISN'T AS GREAT AS DOING NOTHING AT ALL.

20:01:43 I HOPE THAT HELPED.

20:01:57 DO WE HAVE MORE -- ANY MORE QUESTIONS?
>> I THINK,
20:02:00  JACKIE, WE HAVE SO MANY MORE QUESTIONS THAT WE WERE SORT OF
20:02:03  TEXTING EACH OTHER AT PEPS BEHIND THE SCENES TO FIGURE OUT HOW WE CAN
20:02:07  GET THOSE ANSWERED.
>> YEAH.
>> IT IS 8:02 
20:02:10 NOW.
WE WANT TO RESPECT PEOPLE'S TIME, SO I THINK I WAS
20:02:14  GOING TO GO AHEAD AND CLOSE US OFF FOR THE EVENING, BUT ARE YOU
20:02:17  ABLE TO STAY A LITTLE BIT LONGER IN CASE AFTER THAT, YOU KNOW,
20:02:20  LIKE ANYONE WANTS TO ASK ANY MORE QUESTIONS OF YOU, AND
20:02:24  OF COURSE, WE WILL HAVE THE RESOURCE E-MAIL AND BE ABLE TO SHARE THAT 
20:02:27 TOO.
>> YES, AND I WOULD ALSO SUGGEST THAT 
20:02:30 WE, YOU KNOW, IF THERE'S A LOT OF PEOPLE THAT STILL HAVE
20:02:33  CONTINUING QUESTIONS, WE CAN ALWAYS
20:02:37  SET UP A SEPARATE JUST MEET UP, WHERE WE'RE JUST TALKING THE
20:02:41  ANSWERS TO QUESTIONS.
WE'RE NOT
20:02:44  PRESENTING ANY MORE INFORMATION, SO TO SPEAK, WE CAN JUST BE LIVE
20:02:47  LIKE THIS.
WE ACTUALLY DO THEM -- WE
20:02:50  DO THEM ALL TIME.
WE CALL THEM MONDAY MEET UPS.
>>
20:02:53  OKAY, WONDERFUL.
MAYBE WE CAN INCLUDE THOSE.
DO YOU WANT
20:02:56  TO STAY AFTER, OR DO YOU WANT US TO CLOSE UP AND KNOW THAT
20:03:00  THERE'S GOING TO BE MORE OF THESE OPTIONS?
>> I AM PERFECTLY FINE TO
20:03:03  STAY.
I'M
20:03:07  ALREADY HOME.
[LAUGHTER]
>> WONDERFUL.

20:03:10 I THINK I'M JUST GOING TO DO A QUICK SUMMARY.
I'M
20:03:15  GOING TO STOP THE SHARE, AND JUST TO KIND OF WRAP US
20:03:18  UP AND MAKE SURE EVERYONE KIND OF HAS THE INFORMATION THEY NEED BEFORE
20:03:21  THEY GO.
IF YOU HAVE ANY URGENT QUESTIONS THAT YOU
20:03:24  FEEL LIKE A MONDAY MEETUP IS NOT GOING TO WORK FOR YOU, YOU REALLY
20:03:27  -- YOU'RE LIKE JACKIE IS HERE RIGHT NOW, I NEED TO ASK IT,
20:03:31  THAT'S TOTALLY GREAT, PLEASE STAY WITH
20:03:34  US AFTERWARDS.
SO I JUST WANTED TO KIND OF CLOSE OUT SHARING
20:03:37  THAT I'M ACTUALLY A WASHINGTON 529
20:03:42  RECIPIENT MYSELF, SO MY PARENTS WHEN WE FIRST MOVED TO SEATTLE
20:03:45  INVESTED IN GET AND USED IT TO PAY FOR MY
20:03:48  COLLEGE EDUCATION, AND I THINK JUST AS
20:03:51  IMPORTANTLY THEY MADE SURE TO TALK TO ME ABOUT WHAT THEY COULD GIVE ME AND WHAT THEY
20:03:55  COULDN'T.
SO BETWEEN WORKING AND THE 
20:03:58 DIFFERENT CREDITS THAT THEY WERE ABLE TO GET ME MOVING HOME, AT
20:04:01  DIFFERENT TIMES, INSTEAD OF DOING OFF CAMPUS HOUSING AND
20:04:05  THINGS LIKE THAT, I WAS ABLE TO GRADUATE WITHOUT DEBT,
20:04:09  WHICH IS AN ADVANTAGE THAT VERY VERY FEW OF
20:04:12  MY FRIENDS HAVE HAD, AND SEEING HOW DEBT HAS AFFECTED ALL OF
20:04:16  THE DIFFERENT DECISIONS THEY HAVE TO MAKE HAS MADE ME SO
20:04:20  GRATEFUL THEY MADE THIS CHOICE, AND THE OTHER THING, RIGHT, IS
20:04:23  THAT IF YOU SAVE EARLY, YOU ULTIMATELY SORT OF HAVE
20:04:26  TO SAVE LESS BECAUSE OF THE WAY INVESTING AND COMPOUNDING
20:04:29  INTEREST WORKS.
SO I THINK THINGS THAT ARE
20:04:33  REALLY IMPORTANT TO REMEMBER, THE MOST IMPORTANT OF ALL
20:04:36  IS JUST TO START NOW BECAUSE THESE PLANS AREN'T JUST ABOUT
20:04:39  COLLEGE.
YOUR CHILD MAY TAKE MANY PATHS, AND THE
20:04:42  SAVINGS PLAN WILL COVER ALL SORTS OF DIFFERENT ONES.
20:04:46 
>> RIGHT.
>> SO I THINK ALSO I JUST WANT
20:04:49  TO SAY THANK YOU TO EVERYONE FOR BEING HERE.
20:04:52 
WE'RE IN KIND OF A WEIRD MOMENT TO TRY TO THINK ABOUT PLANNING FOR
20:04:56  THE FUTURE, AND I THINK, YOU KNOW, WHATEVER BIG
20:05:00  HUG YOU CAN GIVE YOURSELF AND JUST SAY LIKE WAY TO GO,
20:05:03  I SHOWED UP FOR MYSELF, AND I SHOWED UP FOR
20:05:06  MY KIDS BECAUSE YOU REALLY REALLY
20:05:09  DID, AND THERE IS THIS BEAUTIFUL BRIGHT FUTURE OUT THERE, EVEN
20:05:13  IF THIS YEAR HAS FELT LIKE BEING STUCK IN
20:05:16  THIS MUCK AND THANK YOU FOR LOOKING AHEAD FOR YOUR LITTLE ONE
20:05:19  AND SEEING THAT.
IF YOU WOULD LIKE TO SUPPORT THE WORK OF 
20:05:22 PEPS, THERE'S THREE OTHER WAYS YOU CAN ENGAGE WITH US
20:05:25  FURTHER.
WE ARE GOING TO SHARE THE LINK, IF YOU EVER
20:05:29  WANTED TO LEAD A GROUP IN THE CHAT, I WAS ABLE TO LEAD A GROUP THAT WAS
20:05:32  PARTIALLY VIRTUAL THIS YEAR, AND IT WAS STILL A TON OF FUN.
20:05:35 
SPREAD THE WORD, ALL OF OUR GROUPS ARE VIRTUAL NOW,
20:05:38  AND NOT EVERYBODY KNOWS THAT THEY'RE STILL HAPPENING, SO IT'S REALLY
20:05:41  IMPORTANT FOR FOLKS TO HAVE THEIR COMMUNITY IN THIS
20:05:44  ISOLATING MOMENT, SO MAKE SURE YOUR FRIENDS KNOW.
MAKE SURE YOUR NEIGHBORS,
20:05:47  ANYONE WHO IS HAVING A BABY KNOWS, AND WE'LL ALSO SHARE A LINK,
20:05:51  IF YOU WOULD LIKE TO MAKE A DONATION TO PEPS SO MORE
20:05:54  FAMILIES CAN HAVE ACCESS TO THESE RESOURCES.
IF YOU'RE
20:05:59  HEADED OUT, BEFORE WE GET THESE QUESTIONS, IF YOU WANT TO SHARE ONE THING
20:06:02  THAT YOU LEARNED OR ONE THING -- ONE STEP YOU'RE GOING TO MAKE
20:06:05  MOVING FORWARD TONIGHT, IN THE CHAT, I
20:06:08  THINK THAT COULD BE A REALLY COOL THING TO SEE WHAT EVERYONE IS
20:06:12  TAKING AWAY.
YEAH.
THANK YOU FOR BEING 
20:06:14 HERE.
START.
>> THANK YOU ALL.

20:06:17 I'M STAYING ON.
>> YAY, THANK YOU, JACKIE.
>> THANK YOU.
20:06:27 
>> I THINK PROBABLY SINCE WE'RE NOT GOING TO KNOW, YOU KNOW, WHO
20:06:31  STILL HAS QUESTIONS AND WHICH, YOU KNOW, QUESTION
20:06:34  SOMEBODY IS STILL HERE FOR, IF YOU'VE GOT A 
20:06:37 QUESTION, IF YOU WOULDN'T MIND PUTTING IT BACK
20:06:40  IN THE CHAT, PATRICIA, DOES THAT MAKE SENSE
20:06:43  TO YOU?
>> MAYBE WHOMEVER IS HERE
20:06:47  STILL CAN UNMUTE AND ASK THE QUESTIONS THAT
20:06:50  THEY HAVE.
>> YEAH, LET'S DO THAT.
>> ABSOLUTELY.

20:06:53 >> I WILL CHIME IN TOO TO COVER SOME OF THE QUESTIONS THAT DIDN'T GET
20:07:00  ANSWERED.
>> YEAH.

20:07:06  
>> WHILE WE'RE WAITING FOR SOMEONE TO CHIME IN, JACKIE I HAVE A FEW
20:07:09  THAT WE DIDN'T GET TO YET.
>> 
20:07:12 OKAY.
>>
20:07:15  THERE WAS ONE QUESTION ABOUT WHAT IS THE VALUE OF AN IN STATE
20:07:19  VERSUS OUT
20:07:22  OF STATE TUITION?
>> THE VALUE OF
20:07:25  THE GET ACCOUNT IS ALWAYS IN STATE 
20:07:29 UNDERGRADUATE TUITION OF THE STATE MANDATED FEES OF THE UW AND 
20:07:32 WSU NO MATTER WHERE IT'S BEING USED.
20:07:35 
SO THE VALUE DOESN'T CHANGE IF SOMEBODY USES IT AT AN OUT
20:07:39  OF STATE SCHOOL.
SO, FOR EXAMPLE,
20:07:42  IF SOMEBODY HAS -- THEY BOUGHT 100 UNITS, AND THEN THIS
20:07:45  YEAR THE 100 UNITS ARE WORTH $12,000, I'M JUST
20:07:49  PICKING A NUMBER ARBITRARILY TO WORK WITH AS AN
20:07:52  EXAMPLE, SO THERE SITS $12,000.
NOW, REMEMBER
20:07:55  THIS 12,000 IN MY EXAMPLE IS
20:07:59  REFLECTING THE TUITION IN MY EXAMPLE OF 
20:08:02 UW, LET'S SAY.
THERE'S $12,000.
20:08:05 
PATRICIA, YOUR CHILD MIGHT GO TO A COMMUNITY COLLEGE.
20:08:08 
ZOE YOUR CHILD MIGHT GO TO A PRIVATE SCHOOL IN ANOTHER
20:08:12  STATE.
AND THEN MAYBE JESSICA, YOUR CHILD IS GOING TO THE
20:08:15  UW.
NOW, IF WE ALL HAVE $12,000 BECAUSE
20:08:19  THAT'S EXACTLY WHAT 100 UNITS IS WORTH
20:08:22  THAT DAY, AND THAT SPECIFIC PERIOD OF 
20:08:25 TIME, THEN HOW WELL IT'S USED DEPENDS ON WHERE OUR STUDENTS
20:08:29  ARE GOING TO COLLEGE.
RIGHT?
IF THEY'RE GOING TO THAT PRIVATE 
20:08:32 SCHOOL, LIKE ZOE'S CHILD HAS DECIDED TO DO, IT IS GOING TO PAY TOWARDS
20:08:35  SOME EXPENSES, BUT IT'S CERTAINLY NOT GOING
20:08:38  TO COVER EVERYTHING BECAUSE OUT OF STATE OR PRIVATE INSTITUTION
20:08:42  IS MUCH MORE THAN THE UW
20:08:46  OR WSU.
IN YOUR CASE, PATRICIA IF YOUR CHILD WAS GOING TO
20:08:49  A COMMUNITY COLLEGE, THAT MONEY COULD STRETCH OVER A TWO YEAR PERIOD OF TIME
20:08:52  BECAUSE IT DOESN'T COST AS MUCH, AT A COMMUNITY OR
20:08:55  TECHNICAL SCHOOL TO COVER TUITION AND FEES, 
20:08:58 RIGHT?
AND THEN IN MY EXAMPLE WITH JESSICA, IF THEIR STUDENT
20:09:02  WENT EXACTLY TO THE UW, THEN THAT 12,000
20:09:05  WILL COVER EXACTLY THE TUITION AND STATE
20:09:08  MANDATED FEES, BUT THERE'S STILL ROOM AND BOARD AND BOOKS AND REQUIRED
20:09:11  SUPPLIES AND THINGS LIKE THAT, SO THERE'S ALWAYS
20:09:14  A REASON WHY OTHER RESOURCES, YOU KNOW,
20:09:17  LIKE FINANCIAL AID, SCHOLARSHIPS, THE STUDENT 
20:09:20 WORKING, LIKE ZOE WAS TALKING ABOUT, SHE EVEN
20:09:23  WORKED TOO, RIGHT?
GRANDMA AND GRANDPA, YOU KNOW, CONTRIBUTIONS COMING
20:09:27  IN IN OTHER WAYS.
YOU KNOW, ALL THAT HELPS PAY DOWN
20:09:31  EXPENSES SO THAT THE STUDENT BORROWS LESS.
SO
20:09:34  CHANCES ARE THE 529 PLAN MONEY ISN'T NECESSARILY
20:09:37  GOING TO PAY FOR EVERYTHING.
YOU KNOW, IT REALLY DEPENDS
20:09:41  ON WHERE THE STUDENT GOES AND HOW LONG THEY'RE GOING
20:09:44  AND HOW MUCH A FAMILY WAS ABLE TO SAVE.
I
20:09:50  HOPE THAT HELPED.
>> JACKIE, THERE ARE A FEW MORE
20:09:53  QUESTIONS HERE ABOUT IF YOU COULD HIGHLIGHT SOME OF THE
20:09:57  RISKS OR DISADVANTAGES OF INVESTING IN A 
20:10:00 529.
>> THE OBVIOUS RISKS ARE GOING TO BE WHAT THERE ARE
20:10:03  WITH ANY KIND OF INVESTING, WHICH IS WE DON'T KNOW THE FUTURE.
20:10:06 
YOU KNOW, THERE WAS A
20:10:10  PERIOD OF TIME WHERE TUITION WAS -- LIKE WHEN I STARTED WORKING THE
20:10:13  PROGRAM WAY BACK IN THE LATE 90s, 1998
20:10:16  IS WHEN I STARTED WORKING FOR THE PROGRAM, AND SO
20:10:19  IN THE EARLY 2000, LATE 90s,
20:10:26  TUITION WASN'T MUCH MORE THAN
20:10:29  MAYBE 2 1/2 OR 3, 3 1/2 PERCENT,
20:10:32  IT WAS NOMINAL
20:10:36  AND MINIMAL AND AT THAT TIME I REMEMBER PEOPLE SAYING WHY WOULD
20:10:39  I GET THE GET PROGRAM I COULD PUT MONEY IN AN INVESTMENT
20:10:42  ACCOUNT AND GET SO MUCH MORE OUT OF IT.
20:10:45 
THAT WAS TRUE.
THAT WASN'T AN UNTRUE STATEMENT.
20:10:48 
THE MARKET FLUCTUATES.
SHORTLY AFTER THAT, IN FACT, AFTER 
20:10:51 9/11 HAPPENED, THE RATE OF RETURN ON INVESTMENTS WENT DOWN
20:10:55  AND TUITION SKYROCKETED, AND SO NOW THE VALUE OF
20:10:58  PEOPLE'S GET ACCOUNT WENT TREMENDOUSLY UP.
IT WAS A MOMENT
20:11:01  IN TIME.
IT WAS UNPREDICTABLE, RIGHT?
20:11:05 
BUT THE PEOPLE WHO THEN HAD MONEY JUST SITTING IN INVESTMENT BASED
20:11:08  TYPES OF ACCOUNTS.
THEY LOST MONEY.
AND THEN ALL OF A SUDDEN WE
20:11:11  SAW AN INFLUX OF PEOPLE OPENING UP GET ACCOUNTS
20:11:14  ACTUALLY AFTER THAT BECAUSE
20:11:17  WHAT THEY SAW THERE WAS THERE'S THIS
20:11:21  PEACE OF MIND THING, THERE'S STABILITY HERE.
WE ALWAYS WANT TO MAKE SURE
20:11:24  THAT PEOPLE UNDERSTAND THE INTENT, THE GUARANTEE IS NOT INTENDED FOR PEOPLE
20:11:27  TO THINK THAT IT'S ALWAYS GOING TO GROW 
20:11:30 EXPONENTIALLY.
THERE ARE TIMES WHEN TUITION HAS DONE THAT.

20:11:33 BUT IT REALLY IS ABOUT BEING SURE THAT THAT
20:11:36  MONEY IS THERE WHEN YOU NEED IT.
20:11:40 
YOU KNOW, IF YOU BUY A YEAR'S WORTH OF TUITION, YOU ARE GOING TO GET A YEAR'S
20:11:43  WORTH OF TUITION.
IT IS
20:11:47  NOT INTENDED TO BE -- YOU KNOW, BUT IT CAN HAPPEN, YOU KNOW.
20:11:51 
SO RISKS WOULD BE, YOU KNOW, THERE'S ALWAYS RISKS WITH
20:11:54  INVESTMENT.
WE'RE NOT TAX ADVISORS OR FINANCIAL 
20:11:57 ADVISORS, SO WE DON'T GIVE ADVICE ON THAT, WHICH IS WHY WE ALSO
20:12:00  TELL PEOPLE TO ALWAYS CONFER WITH A FINANCIAL PROFESSIONAL WHO IS
20:12:04  LOOKING AT ALL OF THE THINGS THAT THEY'RE DOING.
THE OTHER
20:12:07  KINDS OF RISKS ARE, YOU KNOW, LIKE YOU START
20:12:10  SAVING FOR ONE CHILD, AND I DON'T KNOW THAT THAT'S NECESSARILY RISK AS IT IS,
20:12:13  YOU KNOW, SOMETHING THAT ALL OF A SUDDEN YOU GO OH MY GOSH, DID
20:12:16  WE THINK OF THIS; RIGHT?
YOU START WITH ONE CHILD, BUT
20:12:19  THEN, YOU KNOW, THERE TYPICALLY ENDS UP BEING TWO
20:12:22  OR THREE OR MAYBE EVEN MORE LATER, SO IT REALLY IS TRYING TO FIGURE
20:12:26  OUT HOW DO YOU STILL SAVE FOR THEM, HOW
20:12:29  DO YOU BUILD IN THAT CULTURE OF DOING THAT WITHOUT
20:12:32  PUTTING YOURSELF IN A SITUATION WHERE YOU'RE NOT
20:12:35  ACTUALLY LIVING IN YOUR HERE AND YOUR NOW BECAUSE YOU'VE GOT TO DO WHAT
20:12:39  YOU'VE GOT TO DO TODAY.
WE ALL KNOW BECAUSE OF WHAT 2020
20:12:42  HAS DONE TO US.
YOU HAVE GOT TO DO WHAT YOU'VE GOT TO DO TODAY,
20:12:46  BUT WE ALSO HAVE TO SAVE FOR OUR RETIREMENT.
WE HAVE TO
20:12:49  SAVE FOR MEDICAL.
YOU KNOW WE HAVE TO THINK ABOUT SO MANY DIFFERENT
20:12:52  THINGS.
I THINK ONE OF THE BEST ENCOURAGEMENTS I HAVE EVER BEEN
20:12:55  ABLE TO GIVE PEOPLE BECAUSE SOMEBODY GAVE IT TO ME
20:12:59  TOO IS STAY WITH WHAT YOU CAN DO AND BUILD
20:13:02  FROM IT.
YOU KNOW AND JUST KNOW THAT IT DOESN'T HAVE TO BE
20:13:05  A PERFECT PLAN.
IT JUST
20:13:08  HAS TO BE A PLAN.
I HOPE THAT HELPED.

20:13:15  
>> I JUST GOT A QUESTION IN FROM GINA.

20:13:18 SHE'S WONDERING COULD OUR FAMILY USE THE MONEY IF OUR CHILD
20:13:21  WENT TO SCHOOL ABROAD?
SO AS AN EXAMPLE, GOING TO THE U.K.
20:13:24  OR OFF TO CANADA.
>> YES, THERE ARE A
20:13:27  LOT OF SCHOOLS IN FOREIGN
20:13:31  COUNTRIES THAT HAVE U.S. FEDERAL ID CODES WHICH MEANS THEY
20:13:34  PARTICIPATE IN THE FINANCIAL AID PROGRAMS, RIGHT?
THEY'RE
20:13:38  ADMINISTERING FINANCE --
U.S. STATE FINANCIAL AID OR U.S.
FINANCIAL
20:13:41  AID, NOT STATE, FINANCIAL AID, SO
20:13:44  ONE OF THE RESOURCES WE NEVER DID GET TO THAT SLIDE, BUT WE WILL
20:13:47  MAKE SURE THAT PEOPLE GET TO
20:13:53  IT, THE FASFA WEBSITE
20:13:56  HAS WHAT'S CALLED FIND A SCHOOL SEARCH LINK ON
20:13:59  IT.
SO PEOPLE WOULD PLUG IN -- 
THERE'S DIFFERENT THINGS YOU HAVE TO 
20:14:02 ANSWER LIKE ARE YOU LOOKING FOR A PARTICULAR STATE OR ARE YOU
20:14:05  LOOKING IN A FOREIGN COUNTRY, AND THEN YOU ANSWER A COUPLE
20:14:09  QUESTIONS AND YOU CLICK SUBMIT AND THE REPORT WILL TELL YOU THE U.S. FEDERAL
20:14:12  ID CODE FOR ALL THE SCHOOLS IN THAT
20:14:15  GEOGRAPHICAL AREA THAT THEY ASKED FOR, INCLUDING
20:14:21  FOREIGN COUNTRIES.
SPECIFICALLY WITH GET I KNOW
20:14:24  THERE ARE STUDENTS THAT HAVE GET ACCOUNTS THAT ARE USING MONEY IN
20:14:27  15 FOREIGN COUNTRIES RIGHT
20:14:30  NOW.
THE MONEY GOES OVER AS U.S. 
DOLLARS, BUT, YOU 
20:14:33 KNOW, SO THE POINT IS, THOUGH, THAT YOU CAN USE IT
20:14:38  WHEREVER THAT SCHOOL IS.
IN THE
20:14:41  22 YEARS THAT I HAVE BEEN WORKING WITH THE PROGRAM,
20:14:44  I COULD PROBABLY COUNT ON ONE HAND THE NUMBER OF
20:14:47  STUDENTS WHO ACTUALLY
20:14:51  USE THEIR MONEY AT A 
20:14:57 NONELIGIBLE INSTITUTION.
>> GINA SAYS THANK YOU, THAT WAS REALLY
20:15:00  HELPFUL.
>> GOOD.
>> WE HAVE A FEW MORE HERE.

20:15:05 >> OKAY.
>> LET'S SEE.
NICOLE IS WONDERING YOU HAD
20:15:08  MENTIONED UW, SO LET'S SAY IF THE 
20:15:11 UW SCHOOL DRASTICALLY LOWERED THEIR TUITION, COULD THE GET ACCOUNT BALANCE
20:15:15  ACTUALLY BE WORTH LESS?
LET'S TALK ABOUT ON A DOLLAR BASIS THAN THE
20:15:19  TOTAL CONTRIBUTIONS?
>> SO THE
20:15:22  ANSWER TO THAT IN SHORT IS YES, BUT
20:15:25  LET'S BACK UP AND TALK ABOUT LIKE
20:15:28  CONTEXT FIRST.
THE VALUE OF THE GET ACCOUNT WILL
20:15:31  KEEP PACE WITH UW AND WSU, BUT
20:15:35  WHICHEVER IS THE HIGHEST AT ANY GIVEN ACADEMIC
20:15:38  YEAR.
SO SOMETIMES IT'S BEEN UW, AND SOMETIMES 
20:15:42 IT'S BEEN WSU.
THAT WILL BE THE FIRST THING.
TYPICALLY 
20:15:45 SPEAKING, THOUGH, IN ALL ACTUALITY, IF
20:15:48  TUITION DECREASED LIKE AT THE
20:15:51  UW, WSU WOULD BE FOLLOWING SUIT SO IT IS NOT LIKE ONE
20:15:54  WILL BE UP HERE AND THE OTHER WILL BE DOWN THERE.
THE SECOND
20:15:57  PART OF THAT IS THAT IT ACTUALLY DID HAPPEN.
20:16:00 
PRIOR TO 2015, TUITION HAD BEEN
20:16:03  SKYROCKETING HERE.
IT WAS HAPPENING ALL OVER THE COUNTRY, BUT I'M STICKING
20:16:07  WITH WHAT I KNOW ABOUT WASHINGTON STATE.
TUITION WAS
20:16:10  SKYROCKETS --
20:16:12  
SKYROCKETING.
THERE WAS ACTUALLY A PERIOD OF TIME 
20:16:15 THAT AN ENTERING FRESHMAN BY THE TIME THEY WERE GRADUATING FROM HIGH SCHOOL, TUITION HAD
20:16:18  INCREASED ALMOST 80% IN THAT FOUR-YEAR
20:16:21  PERIOD OF TIME THAT THEY WERE IN COLLEGE, THAT THEY STARTED AND THEN
20:16:25  EXITED COLLEGE.
SO THE TUITION WAS JUMPING
20:16:28  HUGE AMOUNTS, DOUBLE DIGIT AMOUNTS, IN
20:16:31  A SHORT PERIOD OF TIME, AND THEN THE LEGISLATURE LAID IT 
20:16:34 FLAT.
THERE WERE NO TUITION INCREASES FOR A
20:16:39  COUPLE OF YEARS.
AND THEN IN 2015, THEY REDUCED
20:16:43  TUITION FOR TWO YEAR PERIOD OF TIME.
NOW BY STATUTE, AND THE
20:16:46  STATUTE IS THE LAW THAT GOVERNS THE PROGRAM, SO WHAT'S WRITTEN
20:16:49  IN STATUTE IS THAT THE GET ACCOUNTS KEEP UP WITH
20:16:53  TUITION GROWTH.
SO IF TUITION ACTUALLY WENT BACKWARDS,
20:16:56  THEN THE VALUE OF THE ACCOUNT WENT BACKWARDS.
BUT WHAT
20:17:00  WE WERE ABLE TO DO, WE CLOSED TO NEW 
20:17:04 ENROLLMENTS FOR THAT TWO YEAR PERIOD OF TIME AND WE DID SOME PRICING
20:17:09  ADJUSTMENTS.
ONE OF THE OTHER PARTS OF THIS WHOLE STORY IS
20:17:12  THAT THE GET ACCOUNT IS ALSO INCLUDES WHAT'S
20:17:15  CALLED A RESERVE, SO TIMES WHEN TUITION MAY
20:17:18  BE HIGHER THAN EXPECTED OR RATE OF RETURNS WERE
20:17:22  LOWER THAN EXPECTED, THIS RESERVE SUPPORTS
20:17:25  THE BALANCE OF THE ACCOUNT, BECAUSE THE
20:17:28  ACCOUNT IS REQUIRED TO BE SOLVENT AND THAT
20:17:31  THE STATE IS ON THE HOOK, IT'S THEIR RESPONSIBILITY
20:17:34  TO MAKE SURE THAT WHAT THEY'RE GUARANTEEING IS GOING TO BE THERE.
20:17:37 
IF THERE'S NOT ENOUGH MONEY IN THE ACCOUNT, THEN THE STATE IS
20:17:41  BY LAW REQUIRED TO PUT THE MONEY IN.
THAT'S WHAT THE
20:17:44  GUARANTEE IS ALL ABOUT.
AND SO THE
20:17:47  UNIT PRICE IS ALWAYS HAVING
20:17:51  TO BE CAREFULLY LIKE BALANCED TO
20:17:55  ENSURE THAT THE GUARANTEE HOLDS ITS PLACE.
THAT RESERVE AMOUNT
20:17:58  IS GOING TO BE THERE TO COVER EXPENSES OUT INTO THE FUTURE.
THIS IS
20:18:01  WHY THE UNIT PRICE INCREASES, RIGHT?
20:18:04 
SO AT THAT TIME, WHEN TUITION
20:18:07  --
TUITION WENT THAT WAY, BUT THE RATE OF RETURN ON
20:18:11  INVESTMENTS WENT THAT WAY, AND THE GET
20:18:14  ACCOUNT AND THE RESERVE WERE WELL OVER 
20:18:18 100%, SO WE USED THE RESERVE TO
20:18:21  BALANCE OUT.
PEOPLE WHO HAD BOUGHT UNITS AT A MUCH HIGHER PRICE
20:18:24  AND NOW WE REALIZED OH, THEY PROBABLY DIDN'T NEED TO DO
20:18:27  THAT BECAUSE NOW THE LEGISLATURE JUST REDUCED TUITION, SO
20:18:30  WE WERE ABLE TO DO SOME PRICING 
20:18:33 ADJUSTMENTS.
WE EXTENDED OPPORTUNITIES FOR PEOPLE TO
20:18:36  TAKE REFUNDS WITHOUT PROGRAM PENALTIES AND 
20:18:39 FEES.
WE GAVE PEOPLE A LOT OF INFORMATION AND 
20:18:43 RESOURCES ABOUT ROLLING OVER IF THEY WERE MORE
20:18:46  COMFORTABLE WITH ANOTHER 529 PLAN AND HELPED THEM DO THAT, BUT
20:18:50  ALSO WHAT WAS HAPPENING WAS THE EMERGENCE OF
20:18:53  DREAM AHEAD AT THE SAME TIME.
AND SO ONCE DREAM AHEAD CAME ON 
20:18:56 BOARD, A LOT OF PEOPLE THAT HAD GET ACCOUNTS
20:18:59  AND MORE SPECIFICALLY THERE WERE PEOPLE WHOSE STUDENTS WERE
20:19:02  GETTING READY TO START COLLEGE, THEY ROLLED THEIR
20:19:06  MONEY INTO DREAM AHEAD BECAUSE
20:19:09  WE HAD -- THERE WAS A BILL THAT WAS PASSED
20:19:12  AT THAT TIME THAT GAVE PEOPLE AN OPPORTUNITY TO ROLL FROM GET TO DREAM
20:19:15  AHEAD, AND IT WAS ONLY OURS.
IT WASN'T OTHER STATE
20:19:18  PROGRAMS, RIGHT?
GET TO DREAM AHEAD, AND THEY HAD AN
20:19:22  INCREASE, A BUMP UP IN THE VALUE IF THEY DID IT
20:19:25  WITHIN THE WINDOW
20:19:28  OF TIME.
AND THEN A LOT OF PEOPLE WHO DID THAT, THEIR KIDS WERE READY
20:19:31  TO GO TO COLLEGE RIGHT THEN.
SO IT WAS A GREAT ADVANTAGE TO GET A BUMP UP
20:19:34  IN THE VALUE OF THE ACCOUNT.
THOSE WHO
20:19:37  DIDN'T, LIKE ME, WE HAD -- I HAD A
20:19:40  YOUNGER -- VERY YOUNG GRANDCHILD.
I WAS
20:19:44  COMFORTABLE WITH THE GUARANTEE OF THE GET ACCOUNT AND I ACTUALLY
20:19:47  HAD EXTRA UNITS ADDED TO THE ACCOUNT.
20:19:50 
IT WAS NOT -- IT WASN'T SOMETHING THAT SOMEBODY GOT BILLED FOR
20:19:53  IT.
IT WAS ALREADY PART OF THE FUND.
IT WAS ALREADY SITTING
20:19:56  THERE; RIGHT?
THE REASON I BRING THAT UP IS BECAUSE A
20:19:59  PRECEDENT WAS SET WHEN THAT HAPPENED.
NOW, WE DON'T
20:20:03  KNOW WHAT A FUTURE LEGISLATIVE SESSION WILL DO, BUT WHAT WE
20:20:07  DO KNOW IS THAT THE LEGISLATIVE SESSION WHO MADE ALL THOSE DECISIONS
20:20:10  PROTECTED THE INVESTMENTS OF THE PEOPLE WE HAD, WHICH IS
20:20:14  EXACTLY WHY WE DID NOT OPEN FOR ENROLLMENTS AT THAT
20:20:17  PARTICULAR -- WE HAD A CLOSED ENROLLMENT PERIOD.
WE WEREN'T BRINGING IN
20:20:20  NEW PEOPLE WHILE WE MADE THOSE ADJUSTMENTS.
20:20:23 
HOPE THAT HELPS.
 

20:20:27 >> JACKIE, I THINK WE HAVE
20:20:30  ABOUT TWO MORE 
20:20:33 HERE.
ONE IS PRETTY SPECIFIC, SO IF YOU'RE NOT ABLE
20:20:36  TO ANSWER IT, THEN MAYBE YOU CAN POINT THIS PERSON TO WHERE THEY MIGHT BE ABLE TO
20:20:40  FIND THIS INFORMATION, IF IT IS AVAILABLE.
SO ONE PARENT
20:20:43  IS
20:20:47  WONDERING ABOUT IF WASHINGTON 529 CAN OFFER HISTORICAL
20:20:50  ANALYSIS OR GRAPH TO SHOW THE COMPARISON BETWEEN TUITION GROWTH AS
20:20:53  A PERCENTAGE AND AS A RATE OF RETURN ON THE
20:20:58  DREAM AHEAD PLAN.
>>
20:21:02  OKAY.
OUR DIRECTOR -- LUKE, CAN YOU HEAR 
20:21:06 ME?
LUKE IS ON.
I DON'T KNOW IF HE CAN ACTUALLY HEAR
20:21:09  ME SAY ALL THAT.
>> YES, JACKIE, I
20:21:12  CAN HEAR YOU.
>> GREAT.
I'M GOING
20:21:15  TO TURN THAT OVER TO OUR DIRECTOR LUKE AND LET HIM
20:21:18  ANSWER THAT ONE.
THANK YOU, LUKE.
>> YEAH, OF COURSE.

20:21:21 SO THE QUESTION THERE IS WE DO HAVE GRAPHS ON OUR WEBSITE THAT SHOWS
20:21:24  TUITION GROWTH OVER TIME.
DREAM AHEAD IT WOULD BE KIND OF HARD
20:21:27  TO COMPARE THAT BECAUSE DREAM AHEAD IS A NEW PLAN THAT
20:21:30  OPENED TWO YEARS AGO, BUT WE DO HAVE PERFORMANCE INFORMATION AVAILABLE
20:21:34  ON OUR WEBSITE
20:21:37  THAT SHOWS SINCE INCEPTION WHAT THE GROWTH HAS BEEN ON THE VARIOUS
20:21:41  PORTFOLIOS WITHIN DREAM AHEAD, AS WELL AS THE
20:21:44  DAILY CHANGE IN THE VALUES OF THE PORTFOLIOS AS WELL.
SO
20:21:47  THAT INFORMATION IS AVAILABLE ON OUR WEBSITE.
WE'RE HAPPY
20:21:50  TO PROVIDE LINKS AND I WAS
20:21:54  JUST MESSAGING MARION A LITTLE BIT AGO AND SAYING THAT
20:21:57  I DID ACTUALLY CAPTURE THESE QUESTIONS
20:22:01  THAT WERE BEING ASKED AND WA 529 IS HAPPY
20:22:04  TO TYPE UP SOME BRIEF RESPONSES TO EACH OF THE
20:22:08  QUESTIONS TO PROVIDE THAT TO PEPS TO SHARE AFTERWARDS
20:22:12  IF THAT WOULD BE USEFUL TO ATTENDEES.
>> THAT WOULD BE GREAT, LUKE.
20:22:14 
THANK YOU.
>> YEAH.

20:22:18 >> GREAT.
>> JACKIE, I HAVE ONE MORE
20:22:21  FEW FROM ERIK AND AMIE.
THEY ARE
20:22:24  WONDERING WOULD IT BE BENEFICIAL TO OPEN UP A GET ACCOUNT
20:22:27  AND A 529 INVESTMENT PLAN OR CHOOSE JUST ONE TO
20:22:30  STICK WITH?
>> YOU KNOW, I ALWAYS TELL PEOPLE, YOU KNOW,
20:22:33  YOU HEARD ME SAY IT THROUGHOUT, YOU KNOW,
20:22:37  DIVERSIFYING IS A REALLY GOOD WAY OF
20:22:40  TAKING ADVANTAGE OF DIFFERENT OPPORTUNITIES AND OUTCOMES, SO IF THEY HAVE THE OPPORTUNITY TO
20:22:43  DO BOTH, THAT'S GREAT.
IT DOESN'T MEAN THAT THEY HAVE TO HAVE A LOT
20:22:47  MORE EXTRA MONEY.
WHATEVER MONEY, BUDGET AMOUNT THEY ARE
20:22:51  WORKING WITH, THEY CAN DO -- PUT A LITTLE BIT IN TO GET AND A LITTLE
20:22:54  BIT IN TO DREAM AHEAD.
THE OTHER THING WHAT WE TYPICALLY
20:22:57  IS FAMILIES WHO HAVE REALLY YOUNG CHILDREN,
20:23:00  LIKE ELEMENTARY SCHOOL AND YOUNGER, SO THIS
20:23:03  AUDIENCE SPECIFICALLY, YOUR KIDS ARE ALREADY IN THAT
20:23:06  CATEGORY, THEY START WITH A GET ACCOUNT.
AND THAT'S A
20:23:10  REALLY GOOD PLACE TO BEGIN AND TO BE
20:23:13  CONTINUING TO SAVE IN THE GET PROGRAM RIGHT UP UNTIL THE
20:23:17  TIME THE STUDENT IS ABOUT AT THE END OF THEIR 8TH GRADE YEAR, NOW AT
20:23:20  THAT POINT, IT IS A REALLY GOOD SPRINGBOARD
20:23:23  TO STARTING THE DREAM AHEAD PLAN.
NOW, THAT
20:23:27  DOESN'T MEAN THAT WE'RE TELLING PEOPLE CLOSE YOUR GET ACCOUNT
20:23:30  AND MOVE IT.
WE MEAN JUST DON'T
20:23:33  CONTRIBUTE TO YOUR GET ACCOUNT ANYMORE.
DON'T PUT NEW MONEY
20:23:36  INTO GET.
LET WHAT'S IN THERE CONTINUE TO
20:23:39  SIT THERE.
REMEMBER THERE'S STILL FOUR YEARS OF TUITION GROWTH.
20:23:41 
YOU'RE JUST NOT PUTTING NEW MONEY IN GET.

20:23:46 NO U YOU -- NOW YOU DIVERT THAT MONEY OVER TO DREAM
20:23:49  AHEAD, AND THAT'S A WAY THAT YOU CAN TAKE TIME ON
20:23:52  THE TRANSITION.
SOME PEOPLE ARE MORE COMFORTABLE WITH 
20:23:55 INVESTMENT-BASED PLANS, AND THEY START THERE AND THEY STAY THERE.
AND
20:23:59  THAT'S OKAY.
OTHER PEOPLE ARE VERY COMFORTABLE WITH GET.
20:24:02 
THEY ARE LIKE I KNOW A LOT OF PEOPLE THAT I HAVE MET OVER THE
20:24:05  YEARS WHO SAY NO, LOVE MY GET.
STICKING WITH GET.
LOVE MY GET.
20:24:09 
THAT'S GOOD.
YOU KNOW, YOUR INVESTMENTS
20:24:12  ARE ALWAYS A GOOD THING, ESPECIALLY WHEN IT FEELS COMFORTABLE TO 
20:24:15 YOU, WHEN YOU UNDERSTAND IT AND YOU KNOW WHAT YOU'RE
20:24:18  DOING.
SO I HOPE THAT 
20:24:21 HELPS.
>> AWESOME.
THANK YOU,
20:24:24  JACKIE.
SINCE LUKE HAS SAID THAT ANY SORT OF LINGERING QUESTIONS WE'RE
20:24:27  GOING TO GO AHEAD AND PASS ON
20:24:31  TO WA 529 TO ANSWER, AND WE'LL INCLUDE THAT IN THE
20:24:34  RESOURCES, WE'RE GOING TO CLOSE OUT FOR TONIGHT.
I
20:24:37  JUST WANTED TO SAY OH MY GOSH, WHAT A BIG BIG THANK YOU
20:24:40  TO JACKIE FOR YOUR PRESENTATION AND FOR STAYING
20:24:43  AND ANSWERING ALL OF THESE QUESTIONS.
20:24:47 
SUPER, SUPER HELPFUL.
BEFORE WE ALL HEAD OUT, I JUST
20:24:50  WANTED TO LET YOU ALL KNOW THAT THERE IS GOING TO BE
20:24:53  ANOTHER EVENT THAT PEPS DOES WITH WA 529 IN THE 
20:24:56 SPRING, SO IT'S SUPER IMPORTANT IF YOU'RE ABLE
20:24:59  TO TO FILL OUT THE SURVEY THAT WILL COME
20:25:02  IN THE RESOURCE E-MAIL THAT WE WILL SEND OUT, AND THEN
20:25:05  THAT WAY WE CAN MAKE SURE IF THERE'S ANYTHING THAT YOU'D LIKE TO SEE COVERED IN THE
20:25:09  NEXT EVENT, THAT WE MAKE THAT AS HELPFUL FOR
20:25:12  YOU, FOR OUR COMMUNITY AS POSSIBLE.
SO THANK YOU
20:25:15  ALL FOR BEING HERE.
>> THANK YOU FOR INVITING ME 
20:25:18 TOO.
IT WAS REALLY A PLEASURE TO BE HERE.
IT WAS FUN.

20:25:21 THANK YOU FOR LETTING ME DO
20:25:24  THIS.
>> THANKS, JACKIE.
>> THANK YOU, EVERYBODY.

20:25:26 >> HAVE A GREAT NIGHT.
>> BYE-BYE.
 

20:25:29 >> YOU TOO, BYE.