IT STARTS WITH TARGETED PLANS
You may be focused on day-to-day expenses; how is it possible to set money aside for college on top of those? Just as important: where should you even start? Is a Certificate of Deposit best for long-term savings? What about a 529 plan? How do they even work? What if your child chooses not to attend college?
These questions are important. But, you don’t need to worry about them alone.
By working with a team of advisors who keep your best interests in mind at all times, you can be sure your personalized college savings plan will meet the needs of your family both now and in the future.
WHY IT MATTERS TODAY
Saving for college – and starting as early as possible – is more important today than ever before. To illustrate this, consider the following figures from 2019:
The average total cost of in-state public college: $25,290.
The average total cost of out-of-state public college: $40,940.
The average cost of private college: $50,900.
The average student debt burden: $37,172.
Sources:
The College Board
National Center for Education Statistics
These numbers might seem overwhelming, but through savings plans overseen by an experienced team of financial advisors, they can be achievable. Today, regardless of your financial situation, you can begin working toward a better financial future.
THE EARLIER THE BETTER
As it relates to college savings, compound interest can work in your favor.
Our guide – see below – provides specific examples. However, the key is finding the investments that will help provide the best outcome based on your tolerance for risk and how close your child(ren) is to drawing from your investments.
We can work with you to tailor a strategy that fits your specific needs and goals. You don’t have to go at it alone!
