College Funding Strategies
A Realistic Plan for College, While You’re Still Saving for Everything Else
Saving for college is overwhelming when you’re also trying to save for retirement, pay a mortgage, and cover everyday expenses.
Most families don’t need a perfect plan.
They need a realistic one that fits alongside everything else you’re already juggling.
College Savings Options
529 College Savings Plans
529 plans are the most widely used college savings vehicle, and for good reason: contributions grow tax-free, and withdrawals for qualified education expenses aren’t taxed. We’ll look at how much to save, which plan makes sense, and how to invest it based on your child’s timeline.
Coverdell Education Savings Accounts (ESAs)
Coverdell ESAs offer more investment flexibility than 529s and can also be used for K–12 expenses. They have lower contribution limits, but in the right situation, they can complement a 529 plan effectively.
Multi-Child Planning
Saving for more than one child adds complexity. We’ll build a strategy that accounts for different ages, different timelines, and the reality that you can’t fully fund every account at once.
Balancing College Savings With Retirement
Here’s the hard truth: your kids can borrow for college. You can’t borrow for retirement. We’ll make sure your college savings plan doesn’t come at the expense of your own long-term security, finding the balance that actually works for your family.
Who This Is For
- Parents with kids of any age who want to start a college savings plan
- Families with multiple children trying to balance education savings
- Parents who feel like they’re choosing between their kids’ future and their own retirement
- Anyone confused about the difference between a 529 and a Coverdell ESA
- Grandparents who want to contribute to a grandchild’s education fund
Honest, knowledgeable, and affordable retirement planning and investment advice that has produced excellent results. He has also helped us with our children’s college education funds. Switching to Paul from our previous advisor was the best financial decision we have ever made! Incredibly down to earth, approachable and a great sense of humor.
~ Christian G., Engineer