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Looking to start or supplement an already existing savings account for your child's college education? Understanding how to best take advantage of and choose between the different types of savings plans can pay off in a meaningful way by the time that first tuition payment is due. Just getting started can be a daunting task however, thanks to the range of investment account types and the countless opinions parents find themselves sorting through as they attempt to take that first step. Add in the unimaginably high projected price tags of college degrees, and many parents/grandparents end up doing nothing at this point as they are overwhelmed by the whole exercise.
To help provide a gentle nudge forward, I'm sharing a college financial savings plan "cheat sheet" that boils down the characteristics of 4 of the more popular savings vehicles to the very basics. Choosing the vehicle that will align best with your college savings plans and goals is important--so we hope the side by side comparison is a helpful way to start the process.
Looking for additional investment advice? Let's start a conversation!
