About


The costs associated with a college education or career technical training continue to rise. Proper planning can help provide a tax efficient way to cover some of these expenses.

Everything you need know about
Education Savings


1

Risk

College tuition has risen at a rate higher than general inflation over the last couple of decades. Career technical training has not risen at the same rate, but it’s still expensive. Families that do not plan and save for education can cause debt issues while obtaining a degree or license. College debt has risen to unprecedented levels and may cause our young adult children to start careers with a heavy burden of debt that may affect their finances negatively for years to come.

2

Analysis

We start with understanding what’s important to our clients and getting an idea of their career and educational goals. We can then develop a strategy to cover career and educational expenses. There are a number of tax advantaged strategies we consider. The sooner families start saving for college, the better.

3

Planning

One of the most common education saving product is the 529. This is a very flexible option to accumulate tax free dollars for college or technical schools. It is also flexible for use with different beneficiaries. If one child does not use the funds or gets a scholarship, the balance can be used for another beneficiary. Funds invested in a 529 can be tax deductible in some states. All these factors are considered when planning for education funding.

4

Service

Consistent service with regular reviews of your financial plan and estate plan are critical to keeping you on track. We are happy to meet with our clients on a bi-annual basis and more if necessary to provide proper service.

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