Saving for College

Before we know it our super hero or little ballerina will be going off to college. Even though we may not know what they will be when they grow up or how much the education to get them there will cost, it is important to start a savings plan as soon as we can.

There are many account options designed to help us save for educational expenses. Some people select regular savings accounts or certificates of deposit, while others use educational IRAs or 529 plans. A financial advisor can help us decide which account is best for us based upon our individual risk tolerance, return expectations, and time horizon.

College planning also creates the perfect opportunity for us to teach our kids about the importance of managing their finances. Allowing them to get involved in the planning process helps them learn firsthand the value of budgeting, prioritizing needs versus wants and savings. These skills will follow them into their adult years as they prepare to save for their first house, retirement, and even their own kidís college education.

 

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Planning Tips

  • Do we plan on financially contributing to our childís education?

  • Are there tax benefits for us selecting one account type over another?

  • If we already have a college savings plan in place, are we happy with the growth? 

  • Are we periodically reviewing our plan with our financial advisor?

 

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, an independent, registered broker/dealer.  Securities offered through Raymond James Financial Services are :

Not Deposits Not Guaranteed by Isabella Bank Subject to Risk
Not Insured by FDIC or any other Government Agency May Lose Value

This site is published for residents of the United States only.  Raymond James' Financial Advisors may only conduct business with residents of the states for which they are properly registered.  Please note that not all of the investments and services mentioned are available in every state.  Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site.  Contact your local Raymond James office for information and availability.  Raymond James Financial Services, Inc. Privacy Notice.

 

Isabella Bank and Isabella Bank Investment & Trust Services is independent of Raymond James Financial Services, Inc.  Trust Services are not affiliated with Raymond James Financial Services, Inc.