How can I save for my child’s college expenses?


New York – Saving for college education is a challenge. Most individuals are also saving for their own retirement at exactly the same. Saving for college expense is manageable but you need to develop an overall financial strategy. Consider the following points:

  • Start Early – By beginning your investing program early, you will gain the benefits of compound interest and will have more money when your child is closer to enrolment. Develop a long-term systematic approach.
  • Calculate Need – It is impossible to know where your child will go to college in the future; hence, you want to use estimates for several colleges. Many colleges will provide you with a list of current costs, but also projected costs. The idea of your child going to a Harvard or Stanford is highly alluring; however, you may want to make sure you can afford to help them should they actually get in.

________________

About Us

This article was published and distributed by TheAdviser.com, a trusted source of independent ideas. It should be viewed as general and educational information and not as financial, tax or legal advice. Individuals seeking advice tailored to their specific situation are encouraged to schedule a free consultation with a professional listed in the 1800Adviser.com directory. Both TheAdviser.com and 1800Adviser.com are owned and operated by The Independent Adviser Corporation. For additional information, please refer to their Privacy Policy and Terms of Use, Legal Notices, and Disclaimer.

The post How can I save for my child’s college expenses? appeared first on AskMyAdviser.



Source link

Get a Free Consultation.
Call us at 516-496-0202

Or Send Us a Message!

More Posts