With tuition rates on the rise it is important to start saving for education early. Time is a powerful tool to have on your side and is extremely beneficial in helping reduce the impact of tuition inflation.
There is a saying, “If you want to make a lot of money, invest early, invest a lot, and let it be there for a long time.” With the power of compounding returns, the earlier you start the greater chance you give your assets to grow which allows you to have more options when it comes to educational institutions. There are a few options when saving for a child’s education which includes an educational IRA or a 529 plan depending on your situation.
We recognize setting you up for financial independence means planning for not only your future, but your children’s as well. Schedule an appointment with us to start turning your goals into an actionable plan for the financial confidence and understanding of which educational savings option would be best suited for you.