Hello, friends! Ready to WIN?
I know that many of you are parents already or planning a family at some soon.
So let me ask you? Don’t you want the absolute best for your children?
Like you, I’m doing my best to raise my children in an environment that allows them to thrive academically, socially, and morally (in no particular order…hah).
Creating Nurturing Environments
In order to do this, we need to create environments that challenge and simultaneously support our children’s talents.
And, while I don’t believe college is for everyone, the vast majority of individuals will benefit from some sort of college. If nothing else, it’s statistically relevant that your earning power is significantly higher with a college degree.
So, unless something drastically changes, my wife and I are working towards sending both our children to college. They are only 5 & 3 currently, but the planning begins now!
College is a Large Investment
Although we are comfortable with our finances, sending a child to college is a HUGE undertaking and requires a detailed project plan to execute it efficiently.
It’s already a 6-figure investment today, so by the time my kids are ready to hit college, we’re probably talking about a multi-six-figure investment!
That’s a significant chunk of change, so why should we even bother? Well, most of you know that statistically, a college graduate will make significantly more than someone without a degree. It’s also an important transitionary period socially when you finally “leave the nest” (that’s the hope anyways!).
So, how should we approach this?
Hint: Don’t just cross your fingers and hope for the best!
Find An Expert to Guide You
Fortunately for me, my friend, Jeff, has a client who specializes in just this area. I didn’t even know this financial planning specialty existed, but it makes complete sense to me.
Beth Walker is a financial planner, certified college planning specialist (CCPS), the founder of Center for College Solutions, and author of “Never Pay Retail for College” which I’ve had the pleasure of reading recently.
Her mission is to help families to “successfully plan for getting into, paying for and thriving in college”.
Finding The Ideal Family Intersection
Every college-bound student is unique. Thus, we need to be able to create a plan that maximizes the potential of the student, and also supports the ability of the parents to contribute.
Beth shows us how to marry the needs of both the student and the parents to create a family synergy.
Important Students Considerations:
- Understand College Options
- Prep for College Admissions
- Gain Self Awareness
- Get the Right Mindset
Important Parent Considerations:
- Estimate Family Contributions
- Apply for Financial Aid
- Assess Retirement Readiness
- Calculate Cash Flow for College
Well, if these ideas are resonating with you, look no further!
Beth has been kind enough to provide her book, Never Pay Retail for College, for me to give away my readers. I have a hard-copy ($17.99) and an audio version ($14.95) to giveaway to two lucky winners.
This is the perfect guide for the DIYer’s preparing for their families college project.
It’s super simple to be entered into the drawing, just follow the instructions below.
Readers, how important is college to you? Do you want your children to attend? Why, or why not? Are you actively preparing now?
CONGRATS TO OUR WINNERS!!
Hard Copy – MATTHEW J.
Audio Version – BRIAN M.
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