With nationwide college costs continuing to rise, it has never been more important for parents to develop a savings strategy to help cover these costs.
Although 529 College Savings Plans seem to be a popular choice for today’s discerning parents and grandparents saving for future education costs, we believe the Coverdell Education Savings Account can be a better alternative for most people. (more…)
Parents have many different options when it comes to saving for their children’s educations. There are UTMAs, savings bonds, Roth IRAs, Coverdell Education Savings accounts and 529 Plans, just to name a few. Each person’s savings strategy is different depending on how the money will be used, the income of the parents, the future cost of the education and the time frame. (more…)
I can tell you from experience that children grow up fast! It is very hard for me to believe that my sweet daughter, Abbey, will be starting kindergarten soon. Five years have passed in the blink of an eye!
What’s really scary is that I have a pretty good idea of how much college will cost in the year 2023 when I write the check (to NC State of course!) to pay for her first semester. Fortunately, my wife and I have planned ahead and I hope that you will plan ahead too. I would suggest that you consider utilizing a 529 College Savings Plan as a component of your college savings strategy.