To those who haven’t witnessed it first-hand, guardianship may sound like a heroic assignment in which bigger, stronger, more seasoned protectors keep individuals who are unable to fend for themselves. However, as the ragtag super hero team the Guardians of the Galaxy has come to learn, the reality of assuming guardianship (over a single person, let alone the entire galaxy) is far less than ideal.
As a parent, it’s natural to want to help your children succeed. In fact, in our recent survey of parents, 37% of respondents said no investment goal is more important than saving for a child’s college education.
If you plan to pay for all of your child’s college expenses, you can expect to shell out tens of thousands of dollars for one year, according to the College Board’s 2017-2018 figures:
While it might feel good to give your child a head start in life, choosing to pay for their education might not be an easy choice for everyone.
“The decision to contribute to a child’s college education is a deeply nuanced and personal decision,” said Jeff Motske, a certified financial planner and the president of Trilogy Financial.
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Written by: Kathryn Flynn | College is a major expense, and families without a plan for their children risk jeopardizing their retirement and future financial independence. Many financial advisors discuss college savings as part of a family’s overall financial plan. New parents, parents of high school students and grandparents all turn to financial advisors for help with college planning.
Here are expert tips from financial advisors on how to help clients solve three common issues with college planning.
Click here to read the full story.
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Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.
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