If you’re ready to start saving for your child’s college education, there’s one big question you have to answer: how much should you be saving? Now, to be honest with you, there’s no good way to get a precise answer here because of all the unknowns. But you CAN get in the ballpark and this post will give you a savings target to shoot for.Read more…
5 Good Reasons TO Use a College Savings Account
Posted February 16, 2016
Not everyone should use a dedicated college savings account, but in the right situations it can make a lot of sense. So how do you know when it’s the right move for you? This post breaks down five situations in which it makes sense, including the way to get the maximum benefit from these accounts. Read more…
5 Good Reasons NOT to Use a College Savings Account
Posted February 9, 2016
As soon as you have kids, you’re supposed to open a college savings account, right? The only question is which type and how much to save, right? Wrong. While college savings accounts can be great, the truth is that both you and your kids may be better off not using one. Here are 5 reasons to consider avoiding them.Read more…
Why You Should Consider a Roth IRA for College Savings
Posted October 30, 2014
A Roth IRA for college savings? But isn’t a Roth IRA supposed to be for retirement? It is, but it has a few characteristics that also make it a reasonable place to put your college savings, especially if you want the option of using the money for retirement instead of college. There are pros and cons to this approach, and today we’ll look at the pros.Read more…
Want to Save Money for College? Think About a 529 Plan.
Posted April 24, 2014
You’ve got a lot of options when it comes to saving money for college, but it’s hard to beat the advantages of a 529 plan. So why is it such an underused approach? My guess is lack of knowledge, so let’s fix that! Here’s a rundown explaining exactly what a 529 plan is, how it works, and why it’s such a good place to save for college.Read more…
