IF YOU HAVE COLLEGE-BOUND CHILDREN and plan to play any role in funding their education, here is some exciting information for you concerning our ability to help you prepare and pay for college costs.
WHAT IS COLLEGE PLANNING?
College planning is NOT just saving for college. It is implementing a variety of college cost REDUCING strategies that may end up saving you on your college costs.
WHY IS IT IMPORTANT?
Other than possibly your home, education costs could be the greatest expenses you'll incur. The average cost of a four-year college education is $90,000 - $200,000 - for one child! Every dollar spent on college is a dollar that is NOT going toward your retirement. Think about it: for any large expenditure you'll probably look for ways to reduce your cost (home, car, vacations, etc.) through a variety of cost-reducing strategies. The same approach SHOULD be applied to college costs -- or you may end up paying more than you need to.
WHEN SHOULD I START PLANNING?
NOW. Deferring college planning will just increase your college costs later, potentially diminishing funds set aside for retirement and wealth accumulation.
WHAT IF MY INCOME/NET WORTH IS HIGH - IS THERE ANYTHING I CAN DO?
College planning is NOT just for middle-income earners. The higher your income, the more important effective college planning might be since college is often paid for with after-tax dollars.
WHAT MAKES YOUR FIRM QUALIFIED WITH RESPECT TO COLLEGE PLANNING?
Some professional advisors subscribe to an approach that addresses college planning as essentially a saving issue. We do much more. Beyond just savings strategies, we focus on identifying strategies that leverage your unique situation to help you save ON college costs. We take into consideration topics like specialized college-planning strategies for business owners, planning for financial aid, school-specific scholarships, coordinating college planning with grandparents, cash-flow strategies and options for covering shortfalls, to name just a few.
Today, parents of college-bound children should be able to expect more than just simplistic, one-size-fits-all savings strategies from their financial advisor. With us, you can expect more and we will deliver more!