Did you know many members of our team are avid readers? Whether it is a good story or a book to help us improve as planners, you will often find our noses in a book during our downtime. Today we thought we would share our latest book reviews with you. We’d love to hear what you’ve been reading as well in the comments below!
Most of our clients are saving for college at some point during their time with SH&J. Some are saving for their children and others for their grandkids. As Harold highlights in the video, the number one rule when saving for college is:
Save for retirement first.
That said, when you are looking at how much you should save, consider the following factors:
- Private or public college
- In-state or out-of-state tuition
Working with a financial planner can help you look at these factors along with your retirement and other financial goals to decide on the best path for your college savings goals.
At SH&J, we usually start with 529 plans for college savings. 529 plans:
- Receive federal & state tax breaks
- Are low maintenance
- Allow you to maintain control of the funds
- Grow tax free as long as the money is used for college education
Take a look at our College Planning page for more information about 529 plans and other college saving questions.
If you are looking at saving for college soon, we’d love to meet with you to hear more about your goals. Give us a ring at 303.639.5100 and let’s set up a time.