Funding Retirement and College Costs, too? How?

6a017c332c5ecb970b01a5118d6207970c-320wiRetirement planning and college funding are, for many parents, hopelessly connected.

The reason is simple:  Whatever is spent on college usually comes at the expense of a secure retirement.

Today, tuition, fees, room and board at a public four-year institution can total $31,700 for a single school year and around $41,000 at private schools – and we’re not talking about the top-tier ‘brand names’.  Multiply that by a minimum of four years and the number of children a parent wants educated, and it’s a chunk of bucks.

Parents and students want to purchase the best education possible; and, of course, the colleges are marketing their product, competing for the right students. Continue reading

Can You Pass The College Savings Test?

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Mantaining a sound investment strategy can help put your children on the road to a valuable four-year college degree.

Did you know that on average, a college graduate earns over 80% more than someone with just a high-school diploma?1  That advantage, however, comes with a price tag. Currently, the annual cost of a four-year private college can top $30,000 for tuition, fees, and room and board, according to a 2013 report by the College Board. That’s a significant amount of money, but don’t despair. A sound investment strategy can help put your children on the road to a valuable four-year college degree.

When investing for any large financial objective, it’s best to start early and invest often.  First, set your goal:  Estimate how much you will need to accumulate for each child based on his or her age. Then, develop a plan and stick with it. Consider discussing the following guidelines with your financial advisor. Continue reading