How much you should have in a 529 plan to save for college for your children by age, including high and low contributions for public and private school.
With tuition costs steadily rising, it’s hard to imagine what your child will have to pay for college in a decade or more. Knowing this, it’s really no surprise that 45% of parents are saving money toward their child’s college education, according to the 2014 College Savings Foundation Executive Summary. As a parent myself, I […]
The average American college student graduates with nearly $30,000 in student loan debt, according to the U.S. News and World Report, and one in seven students defaults on his or her student loan within three years of graduation. The total amount of student debt in the U.S. tops $1.2 trillion. The cost of higher education […]
The 529 Plan is a savings plan for college education. The investment earnings grow to meet the higher costs of a future education. With the prepaid tuition option, you can even lock in today’s tuition rates, and the program will pay future college tuition at any of the state’s eligible colleges or universities. Another option […]
I’m a huge fan of developing an “order of operations” for different financial activities. You may remember last year I invented FIBS as a order of operations for saving for retirement. FIBS stands for 401k, IRA, Brokerage, Social Security. It’s just an easy way to remember the order you should do things. But, what about a closer […]