How To Create a College Fund for Your Child

Hello, Jeff Breault here. I am a financial advisor who has been helping clients fund their children’s schooling, save money, and build their own “empires” that they can pass on to their heirs when the time comes.

One of the things my clients talk about is how difficult it is to put their children through college. Experts estimate that the cost of college education 18 years from now would be upwards of $100,000 for a public school and double that for a private school.

A hefty sum for education, right?

Thankfully, you’re working with Jeff Breault. Here’s how I help my clients plan for their children’s education:

Have a Plan A lot of things go into planning for your child’s college years. The total amount varies from state to state, but remember that your child might be eligible for scholarships, grants, private student loans, and financial assistance when the time comes. You can use this free tool to gauge how much your child’s education may be in a few years.

Start Right Now and Save As Much As You Can Don’t just set aside a lump sum every year for your child’s schooling. You must start aggressively and regularly, and you can take advantage of compound interest while you are at it. Once you decide how much you need to save every month to ensure that your child will be able to afford college, plan on where to invest that money.

Get a Financial Advisor A financial advisor will guide you on how you can invest wisely. You can use stock funds, bond funds, and money market funds. You can also consider Education IRA and State College Savings Plans or 529 plans. Whatever the case, your financial advisor will help you navigate this tricky terrain so you can come up with a plan that will see your child through college.

There you have it. This has been Jeff Breault, at your service. Let me know if I can help you plan for your child’s future!

Comments

Popular posts from this blog

Jeff Breault: The Importance of Good Posture in Golf

Merle Haggard: The Greatest of the Giants in Country Music