Funding a child’s or grandchild’s education costs is a noble goal. Whether you’re paying tuition costs now or saving for the future, it’s important to determine if your education strategy is compatible with achieving your retirement income and related financial objectives. Tax considerations and retirement income needs must be carefully weighed and evaluated before choosing a specific strategy. It’s important to remember that while education expenses can be funded through borrowing, retirement expenses cannot.
We can help you navigate today’s complex education planning landscape, providing information and guidance in these and other important areas of education planning:
- 529 college savings plans
- Coverdell Education Savings Accounts (Coverdell ESAs)
- UGMA and UTMA accounts
- EE savings bonds
As independent advisors, we are under no pressure to recommend specific education savings programs or proprietary products of any type. Our only concern is which program best meets your needs.