Education Planning
Teaching Money Mindfulness to Your Children
At some point in a child’s development, all parents wonder: how can I best teach my child the value of money? Parents who grew up in more modest circumstances than their own children can struggle to balance the desire to provide their children with the luxuries they never had with the importance of delayed gratification. What are some tools parents can…
Read More529 Savings Plans vs. Prepaid Tuition Plans
Section 529 plans are popular education savings vehicles. To choose the type of 529 plan that’s right for you, it’s important to understand how 529 savings plans and 529 prepaid tuition plans work and the differences between them. Who can offer each type of plan? At one time, only states could offer 529 savings plans…
Read MoreShould I invest a lump sum or use dollar cost averaging when investing in a 529 plan?
There’s no right answer — you can do either. For some parents, contributing smaller, regular amounts to a 529 plan is preferable because they might not have the discretionary income to invest more. One way to put your monthly contributions on autopilot is to set up automatic monthly debits from your checking or savings account…
Read More3 Basic Education Planning Principles
The fact that the cost of today’s college tuition and related expenditures are high cannot be overemphasized. As a parent, you need to practice healthy education planning for your children when they are young or you may struggle to help them financially when they are ready for college. After all, the costs of education keep…
Read MoreTop 5 Early Childhood Education Planning Tips
Planning for your child’s education should begin at the pre-school level; giving your child a strong start will help them succeed in elementary school, high school and beyond. Soaring costs of post-secondary education and ballooning student loan debt has made education planning even more vital. Failure to plan early can have long-term consequences that extend far…
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