The value of an education is hard to measure because it affects so many aspects of life. Certainly, it has a significant impact on earnings potential, but its value goes far beyond that – a richer, more fulfilling life.
It’s not surprising, then, that investing in a child’s educational future is a common goal of parents and grandparents. But the many funding options are confusing.
With the right guidance, most families can build a financially secure future. One way to do that is having a clear plan on how to meet looming college bills. Here are some suggestions to help you save for college.
Determine specific savings goals
Consider the number of children you have, how many years until they start college and where they may attend college. Review your current savings and your projected needs to determine how much you will need to save each month to reach your target.
Take action
Having a plan is a great start, but plans mean nothing without follow through. Set up an automatic investment plan to add to your savings on a regular basis. The sooner you start saving, the more time your money has to grow. Be sure to diversify your portfolio among investments to seek the best returns while reducing overall risk.
Seek the help of a financial professional
Financial professionals can be your best allies in saving for college. A professional can assist you in estimating the costs for college.
Let me help
Backed by a team of experts, I’ll lay out your choices for funding a child’s future education. Working with you one-on-one, we'll determine the best way for you to reach your education funding needs, no matter where you’re starting from. Give me a call to find out more.
The information contained here is general and should not be considered legal or tax advice. Laws of a particular state and your particular situation may significantly affect the general information presented herein. The availability of the tax or other benefits mentioned above may be conditioned on meeting certain requirements. You should consult your attorney or tax advisor regarding your specific legal or tax situation. You should carefully consider the investment objectives, risks, charges and expenses of SMART529 and its Underlying Funds before investing. This and other information can be found in the Offering Statement for SMART529 and the prospectuses or other disclosure documents for the Underlying Funds, which can be obtained on SMART529.com. Please read them carefully before you invest or send money. SMART529 is distributed by Hartford Securities Distribution Company, Inc. Member SIPC.