Education Planning & Wealth Building

Learn why starting your education funding at the earliest time possible serves your and your family’s best interest…

 

As the holiday season kicked in and the creator of TheWealthIncreaser.com spent time with his children, grandchildren, siblings, mother, in-laws and other loved ones it came into focus after a number of days of reflection the need to address estate planning/wills at this time.

 

However, after dropping my youngest daughter off at the airport to send back to college the urge to write about education planning and how you can better serve your children (or yourself) over the coming years as they prepare for college—and leave their nest superseded the urge to discuss estate planning at this time.

 

It is important that you don’t do like the creator of TheWealthIncreaser.com did (not saving enough for his 3 children on the front end and had to use current income to pay for tuition of his youngest daughter) by not saving enough due to unforeseen events and adversity that occurred.

 

In the current economy it is important that you know the areas of your financial life that needs addressing and you must put a plan in place to address those areas!

 

If you anticipate future educational expenses whether it be for yourself, your children or your grandchildren—you must have a thorough overview and understanding of how you can fund those expenses at the earliest time possible.

 

It is also critical that you know other options that you may have to pay for educational expenses for yourself and/or your loved ones.

 

To better direct your future you want to know your educational outlook and where you are headed in a manner that you can comprehend!

 

You want to understand what you need to do “at this time” and “this discussion” will get you started and up to speed on “funding” educational options for you and/or your children in a manner that can allow you to avoid the worry, stress, anxiety, fear and frustration that seems to curtail so many.

 

When you lack the direction that you need to go and you don’t know the options that you can proactively take to mitigate a financial shortfall when it comes to educational funding for yourself and/or your children—you put yourself and your family at a major financial disadvantage throughout your lifetime!

 

In this discussion TheWealthIncreaser.com will discuss ways that you can fund your or your child’s education in a manner where the advantage will be in your favor.

 

 

Tax Advantage Educational Savings Options

 

Coverdell

Pre-paid Tuition

529 Plans

Many Other Ways

 

Retirement Savings for Education

 

IRA’s

 

401k’s

 

Thrift

 

Many Other Ways

 

Current Income

 

w-2

 

Sideline Income

 

Work-study or child working as a means to fund education

 

Many Other Ways

 

 

Conclusion

 

Scholarships—educational, athletically, musically etcetera, must be pursued and your child must be active in making their continuing education dreams come true by actively pursuing scholarships and having a real interest in how they (and/or you) can save for and fund their education now—so that they (and you) won’t be blind-sided after the fact or when it is too late.

 

Apply early and often as scholarships and grants can go quickly…

 

In most cases planning years in advance and knowing the number that you need to reach to fund your or your child(s) educational requirements will be the most effective approach.

 

If you come up short you may have to use your current income and possibly your retirement income.

 

Ideally you want to avoid those options by having your child obtain a scholarship or using other means of payment–such as saving NOW so that you have a certain level of comfort on the inside of you!

 

However,  your options may be limited if you fail to plan now.  Don’t be like the creator of TheWealthIncreasor.com and come up short on your educational funding goals!

 

Start now–and make your or your children’s goal of continuing education, a reality by doing the necessary planning at this time.

 

All the best to your continued educational success…

 

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