Ready for College?

Remember playing Tic Tac Toe as a child? Who won the first time you played? That’s right, the person who showed you the game. You learned the rules as you played and lost regularly until you figured it out. Rules related to college panning are difficult and not knowing them can cost you… This video will introduce you to the information you will want to know as you start thinking about college and where to begin to develop a solid plan.


Is A 529 Collage Plan Best For Your Kids

While students are following an ever-evolving curriculum from grade school, middle school, and high school in preparation for the next level in their education, many parents are recognizing that they are ill prepared for the financial commitment that most higher education pursuits will require.

Even if you began saving at the birth of your child, you may find that many of the prepaid tuition plans have fallen short of their financial promises and unfortunately some have even ceased to exist. 529 plans which offer tax-free withdrawals for education costs have suffered the fate and turmoil of the investment markets and as a result, often have little more available than the value of their contributions.

The timing of college does not seem to come at a convenient time for us either. The expense of college typically occurs just a few short years before we have to begin facing the end of our working career and the uncertainty in today’s world of retirement and the fact that retirement is fast becoming an illusion rather than a reality due to recent market downturns.

The economic climate has positioned many parents with two major financial objectives, buying for limited and perhaps insufficient funds to achieve either. Objective. Students today are following a well-rounded educational path to prepare for academic and professional pursuits upon graduation. However, parents have been left alone to prepare for the financial burden.

Their child’s educational pursuits will demand when you consider the expense to even raise a child today, it’s no wonder that many have had little resources to put towards college expenses regardless of how later early in the game you started planning, there are specific steps and approaches that should be followed in order to ensure that you maximize the opportunities available and are prepared for this major expense when your child is ready for college.

First, the entirety of the probable timeline for your child’s higher education must be documented. Undergrad and perhaps graduate training. Getting them in is only the beginning.

You also need to be prepared for the long road and getting them out and then into the workforce. Second, an accurate forecast of available resources for all your financial goals should be established.

When you fully understand the entirety of your financial resources, including your present income savings and borrowing capacity, you can more adequately prepare a funding plan that is going to work and provide the maximum financial opportunities available. Third, it’s important that you spend time prioritizing all of your financial goals in addition to the future expense of college.

You must also cover the cost of living today as well as prepare for your retirement. Fourth and finally, we recommend a year by year plan that incorporates all your financial goals with as many guarantees along the way as possible. The difference between planning and wishing lies in the commitment to ensure the outcome. If you’re somewhat overwhelmed with the demands of being ready financially for your child’s college expenses, you’re not alone.

Do you remember playing tic-tac-toe as a child who won the first time you played? That’s right. The person who showed you the game, you learn the rules as you played and lost regularly until you figured it out.

The financial rules related to college planning are difficult. And if you try to learn as you go, you may find that you can make some pretty big financial mistakes along the way.

We can help with the rules and can potentially help you find money that’s available to you and your child that you could have missed. Give us a call and allow us to help you make sure your child is not ready for college before you.