Many parents are concerned with planning for their child’s college funding while still saving for their retirement. We seek to strike a balance between the immediate need for college planning and future retirement goals. We can help you determine a college savings plan that is appropriate for you and your family, be it a 529 plan, Educational IRA, UGMA account, or Coverdell Educational Savings Plan.
According to the College Board and the US Census Bureau, people with a bachelor’s degree, on average, earn over 80% more than people with only a high school diploma. Over a course of a lifetime, the earning potential of a person with a college degree is significantly higher than someone with only a high school diploma.
Planning for your child’s future is an important step, and each year the cost of college increases. However, the high cost of college is likely to pay off in the long term. Unfortunately, the potential increase in your child’s earning potential does not decrease the expense it will cost to send them to college.
There are many things to consider when investing in your child’s future, and Thomson Investment Group is prepared to be there every step of the way for you in planning for your child’s education.