|
Why Save For College
You want the best for
your child or grandchild. Like most major financial goals, this one
requires planning.
For many parents, paying for college is a significant
challenge. Time is short and the costs are high, with average college
costs typically rising faster than inflation.
If thoughts of saving for your child’s or grandchild’s education
cause panic, consider adding a college funding plan to your portfolio.
With new tax laws and investment strategies, parents and grandparents
are finding it easier to save for rising tuition costs. We
recognize that your children and grandchildren are your future, and that
a proper education is key to their success.
The average cost of attending both public and private universities in
the United States since the 1980s, has increased at two and sometimes
three times the rate of inflation. Although college expenses are
soaring, the costs associated with not attending college may be greater.
Over a person's lifetime, research shows that the gap in earning
potential between high school graduates and college graduates exceeds
$1,000,000.Difficult or not, you need to start planning. Our
professionals understand the obstacles you face and can help you select
the right components from the many choices available, including
Education IRA's, 529 plans, prepaid tuition, and others. We can
help you determine what your savings target should be based on projected
costs, and then recommend appropriate investment strategies.
|
