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December 11, 2017

529 Account – Your Kid’s Ticket to Student Debt Freedom – with Abby Chao


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Abby Chao is the Co-Founder of CollegeBacker. She and her company are on a mission to make saving for college easy with the magical 529 account.  

Abby and I met a dinner in Dallas in October. Her enthusiasm for combating the $1.4 trillion student loan crisis in our country was inspiring. I had to bring her on the show so you all could be inspired too.

Evidently, 70% of families in the US are not aware of the incredible benefits of the 529. We’re going to help with that today. 

About Our Guest:  Abby Chao

Abby Chao is a mission-driven strategist passionate about helping families save through CollegeBacker.

Abby Chao with CollegeBacker
CollegeBacker Co-Founder, Abby Chao

At McKinsey, she was a Social Sector Fellow in education, in addition to serving financial services & technology clients on marketing & sales. Prior to that, she covered technology, media & telecom at Goldman Sachs, and she also studied business and web technologies at USC.

What are we covering today?

Abby and I discuss:

  • The details of 529 college savings accounts
  • How people can combat the student loan crisis in our country
  • What CollegeBacker is doing to support families with the future costs of college

If you love your kiddos and want to give them a chance at student debt freedom, you will not want to miss today’s show.


Money Master of the Week

Congratulations to Rocky Lalvani for setting up his two children up Roth IRAs this year. His two children, now 15 and 17, already have thousands of dollars saved up.

If he continues similar deposits for his kids throughout their college years, they will both easily become millionaires by retirement age.

How's that for a Christmas present?!

Rocky Lalvani, Richer Soul
Rocky Lalvani, Richer Soul

Rocky is the Money Master of the Week!

Outside of helping his children become completely financially set for their future, Rocky works as a financial coach and a tax planning agent. His love for business and finance has allowed him to become a millionaire in his 40's.

Connect with Rocky and follow his journey to a richer life at Richer Soul.

If you have a financial victory you want to share on this show, please contact me with the details. Your story will inspire others to save more, make more and plan for their family’s future.

Show Resources

(The resources below may provide me a commission that will support the management of this site and podcast – thanks!)

Collegebacker’S RESOURCES

CollegeBacker $25 Match – Your first $25 deposit will be matched by CollegeBacker. Let's get saving today!

Abby's Recommended BookRich Dad, Poor Dad by Robert Kiyosaki


Join the MKM Community for January's Young Family Wealth Playbook

Why I Don't Give My Kids an Allowance

Support this Show

If you enjoyed this podcast episode, here are some excellent ways to support the show:

I truly appreciate the support everyone!


I’d love to hear from you!

Connect with me on TwitterFacebook or shoot me an email.

If you’d like your question featured on the show, reach out and let me know. It would be my honor to support you in your journey toward financial freedom.

Carpe Diem Quote

“Our greatest natural resource is in the minds of our children”

– Walt Disney

Do you have a 529 Account?

Why or why not?

Please tell me about it in the comments below!

Andy Hill

Andy Hill, AFC® is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping families build wealth and happiness. With millions of podcast downloads and video views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world. When he's not "talking money", Andy enjoys being a Soccer Dad, singing karaoke with his wife and relaxing on his hammock.

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Marriage Kids and Money Podcast

About Marriage Kids & Money

The Marriage Kids and Money Podcast is dedicated to helping young families build wealth and happiness.

With over 400 episodes and counting, we share interviews with wealthy families, award-winning authors, and personal finance experts to help you find your version of family financial independence.

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