College Investment Planning
By Jeff Matthews, CFP® CDFA®Senior Financial Advisor Whether you are a new parent, grandparent, or simply looking to save for your own education, there are several key items to help ensure you have a solid plan to afford future education needs for your family.
Start with a planSaving for college is a top priority for many parents, but for some it is less important. I always say there is no wrong answer when determining how much you want to help with college expenses. Whether you plan to cover every cost from undergrad to med school or just help where you can, your financial advisor can help you with cost projections and saving goals.
Start earlyIt is important to formulate a college education plan early. As every parent knows, your baby turns into a teenager in the blink of an eye. Even if you can only afford a small amount each month, put something away into an account specific to college savings.
Where to saveA 529 plan can be a great place to save for college. It provides tax-deferred growth and can potentially have other great benefits. When advising clients I think it is important to maintain a balance between 529 savings and taxable savings. While 529s can be a wonderful tool, the flexibility of taxable savings can also provide great value.
If you are just starting your college savings or would like a review of your current strategy we can help.
Contact us to review your current situation.
As a Certified Financial Planner™ professional with over 15 years of experience, Jeff aims to help improve the financial wellbeing of his clients. He develops a plan to help reach your goals by understanding what is uniquely important to your family and you, such as sending your child to college, reaching your ideal retirement or creating a financial legacy that will live on for generations.
The use of the CDFA® designation does not permit Wells Fargo Advisors or its Financial Advisors to provide legal advice, nor is it meant to imply that the firm or its associates are acting as experts in this field. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
Please consider the investment objectives, risks, charges and expenses carefully before investing in a 529 savings plan. The official statement, which contains this and other information, can be obtained by calling your financial advisor. Read it carefully before you invest.