The Sports On Tap Edit
The Sports On Tap Edit

Deion Sanders Starts 529 Bank Accounts For 8 Players On Colorado Who Are Dads

Deion Sanders has helped out 8 players from Colorado who are also dads. There are members of the team who also happen to have children. So Deion Sanders has decided to help these 8 players by opening them a "529 account" with $2,121 dollars in it.Ā 

There is a lot that could be said about Deion Sanders and some of his antics, but there is one thing that can't be denied: he seems like a good man. He did win Sports Illustrated Man Of the Year in 2023 and this is just an amazing idea by Sanders.Ā 

There are 8 fathers on the roster and one soon to be dad, so Sanders decided to partner with a bank and open up 529 accounts for them with $2121 in each account. Now, remember $2121 might not seem like much, but with compounding interest, it's going to add up big by the time their kids are in college. And for those not familiar with a 529 account, it's basically a saving account with a tax advantage which is designed for education expenses. So for those fathers who didn't think of getting their kids education plan started early, this is a great plan by Deion.

Now, the whole point here I would say is not the $2,000 dollars. It's introducing these young men to a 529 account which should help them make some smart financial decisions down the line. We know that these players make a lot more than $2,000 now due to NIL. But a great job by Coach Prime to teach them how to best utilize their kids future.
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