Saving for Education
As the cost of higher education continues to rise, many parents consider saving for their children’s education one of their highest priorities. Saving for college requires careful consideration and planning without jeopardizing your retirement savings plan.
The most common mistakes people make are:
- Waiting too long to start saving
- Not contributing to a plan consistently
- Not becoming informed on all the options
- Waiting too long to get professional advice
It’s important to learn about the rules and implications of the various college savings plan options and learn how saving for college can fit into your financial life. While it may seem daunting for some, it is doable.
Our financial professionals can help you determine how saving for education can fit into your financial life and how a college savings plan may affect your taxes, your tax credits, and your child’s eligibility for financial aid. We’re here to help with your concerns about the debt your children may face after college.