As a financial advisor in Columbia, MO, I frequently hear from parents about how they want to make the best decisions when planning to finance their children’s education.
As a parent, I can relate to these college planning topics on a personal level. The correct balance of savings and investing for each situation can be tricky. The key to saving for future college expenses is putting aside what you can afford to save while meeting your own financial goals.
I often remind parents that the government will loan your child money for school if necessary—they won’t do the same for your retirement! We always get a smile when we remind parents that “little Jacob or Emily” will like it much better someday when they have student loans and their own place, rather than having Mom and Dad living in their basement because they sacrificed their own financial stability to put the kids through college.
When we work with clients, we’re always trying to field all the options for them to finance college educations. We’ve written an article for the Columbia Tribune about when saving for college makes sense and discussing our Financial Fundamentals – answering questions such as:
How much money should I have in the bank before locking money up in college accounts?
What is the right sized home to effectively handle your financial risk?
What kind of debt should I get rid of before adding to college accounts?
As a financial planner specializing in comprehensive financial planning, Tim enjoys helping clients in Columbia, MO with strategies for saving for college as well as other financial issues.
If you would like to learn more about this and other personal topics serviced by financial planners please contact us at 573-447-7007. Clarity Financial, LLC is a fee-only financial advisory firm in Columbia, MO. Appointments are welcome and initial consultations are free.
Certified Financial Planner™ professional
Member of the Alliance of Comprehensive Planners
Member of the National Association of Personal Financial Advisors
Enrolled Agent designation from the IRS
This article is the property of Clarity Financial LLC.
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