As I am sure you can relate, the thought of paying for our children’s education is one that weighs heavily on each of our minds. The reality is, over the last 20+ years, we have seen the cost of higher education increase at a rate of more than double that of inflation. Whether you plan to fully fund your children’s education or just help out with a percentage, the cost will most likely continue to rise. So what do we do and what is the best strategy?
I have spent a lot of time thinking through this question and evaluating ultimately what is the best way to fund our education goal with the least amount of money. While at the same time having to worry about other factors, such as your current cost of living, saving for retirement and emergency savings. There isn’t necessarily one recipe that works for everyone, but instead finding what makes the most sense for your situation. To get started it is important to understand what options are available and the benefits of these options. In the end, having a plan in place is the most important part of the equation. If you would like to discuss a customized college savings plan or have other financial planning needs please feel free to contact me. In the meantime check out the short video below and also take a look at www.savingforcollege.com as a great resource to get you started.