Plan for your child’s future college education.
The biggest hindrance for young adults and families building their savings is paying off accumulated debt, particularly student loan debt. Being saddled with large monthly loan repayments does not allow young adults the extra income to save for retirement and other life needs.
Saving for college may seem like a daunting and stressful task, but it will pay off for your child in the long run. College tuition has been on the rise in recent years, and depending on each individual’s situation, it could end up costing between $20,000 and $40,000 or more for a four-year education. Should you forgo saving for your child’s future education, it could end up costing them almost double when interest on student loans is considered.
Let Us at Planning Bucket Help You Find a Financial Advisor to Help Meet Your Financial Goals
When saving for college and college planning, it is important to consider what type of school your child may attend. Do you want them to attend a four-year private university, or do you want them to attend the local in-state four-year college? Will your child need funds to cover room and board, or will they stay at home while in school? Will they live off campus in their own apartment? If they live off-campus, how are they going to get to and from school? Each of these questions is important to consider when planning for your child’s future education.
For guidance and advice on college planning, as well as an introduction to the different savings plans you can use to plan for your child’s college education, like 529 plans and custodial accounts, contact Planning Bucket. Their financial professionals serve those in Asheboro, North Carolina and can help you plan for this major investment in your child’s future.
Planning Bucket connects clients with college planning advisors in Central and Western North Carolina, including Asheboro, Burlington, Chapel Hill, Charlotte, Concord, Greensboro, High Point, Huntersville, Kannapolis, Lexington, Matthews, Monroe, Reidsville, Winston-Salem, Asheville, Boone, Brevard, Dobson, Elkin, Hickory, Morganton, Mount Airy, Sparta, Statesville, West Jefferson, and Wilkesboro.