Education Funding Vehicles & Wealth Building

Happy Birthday Mom…


Learn why effective education funding requires that you proactively analyze your finances at this time…


As you (or other members in your household) contemplate your desire to achieve your higher education dreams, it is important that you anticipate the costs that are associated with funding and reaching those dreams.


You must plan in advance for rising educational costs as those costs will normally outpace inflation, therefore you need to have a return at or above inflation to even be in the ballgame as far as effectively meeting your higher education expenses.


In this discussion will stress the importance of starting early when it comes to funding your or your children’s educational costs in the future so that you can enjoy life more and still meet the educational goals that you desire for yourself and/or your loved ones.


Never underestimate the importance of starting early

By anticipating your educational costs at the earliest time possible, you give yourself and other members of your household (who may desire pursuing higher education) additional time to “recalibrate their finances” and reach a savings level that can lessen the burden of rising educational costs that will undoubtedly occur.


You can use the time value of money, market activity and a well thought out plan to increase your capital gains and account earnings over a number of years so that you can make the payment of higher education less burdensome.


Know the number you need to hit to effectively fund your educational costs and then do the best you can to hit that number

You cannot just save consistently with no plan in place that tells you the “number” that you need to hit to make the educational funding number–one that you can use to make the college of choice not only the one that you desire to attend, but one that is affordable as well.


You want to meet or exceed the number that you need to hit so that you won’t have to use your current income (as the creator of had to do), borrowing or other adverse means to fund your or your child’s higher education costs.


Do continuous review so that you can make adjustments if that is what you need to do

In life adversity will occur, and it is how you respond to that adversity that is the real key as to how you will propel toward your goals in the future.  You must be resilient and bounce back from “life’s happenings” that throw your educational funding off track.


And you must make it a point to do your absolute best to stay focused and achieve what you need to achieve in spite of occasional setbacks!


You also want to set yourself up for success by consistently investing over time, and automatic contributions to educational funding vehicles will help you do just that if you now have the meansand a long-term plan that allows you to hit the number (or come as close as you absolutely can based on your circumstances) that makes borrowing unnecessary–or at worst less burdensome for you and your family.



Regardless of where you reside, the importance of funding higher education cannot be underestimated as by achieving at a high level you can use your education to unlock doors that you may have never imagined at this time–or even in your future.


Therefore, it is important that you get out in front of your educational goals as higher education normally comes with a cost in many parts of the world. 


By starting early, knowing the number that you need to reach to make your educational borrowing costs zero or a manageable number, you can put yourself in position to get the education that you desire and pursue your life purpose; thereby living out your life with more joy.


There are now many educational funding vehicles to choose from including the highly popular 529 savings plan that can be used from the elementary school level to the collegiate level, IRA’s, Coverdell accounts, ABLE accounts, and many other funding vehicles that allow you to save in a manner that you will potentially feel comfortable doing.


If you have two children who desire higher education, and one later changes their mind–you can use 529 contributions of the one who chose not to attend (transfer the funds in their account) on the one who does choose to seek higher education, or the money can revert back to you if no one chooses to go to college (technicalities apply).


In addition, you may be able to deduct the 529 contributions on your state tax return if you live in a state that allows you to do so–and even if you don’t live in a state that allows you to do so, your earnings from the contributions will grow tax free at the state and federal level, if used for appropriate educational purposes!


In spite of your best educational funding efforts, it is not uncommon to fall short–even so you will be in a better position than most–as you will at least have a large portion of what you need to fund higher education for yourself and/or your children.


You can also use Federal Student Aid to assist in meeting the rising cost of higher education. However, realize that it is not your best option–therefore do your best to plan appropriately for your anticipated educational needs in a proactive manner.


Work-study programs and working your way through college are also options to help reduce college costs–and academic and athletic scholarships can also be pursued at a high level to help reduce the costs of higher education as your child moves from middle to high school (keep in mind that your children will generally still have “out of pocket expenses or shortfalls”–even if they receive an academic or athletic scholarship).


Pell grants and other assistance may also be available to those who qualify based on the completion of FAFSA forms along with other documentation!


In addition, you want to know that at this time in the United States tax code–you (or possibly your child) can deduct student loan interest if you or your child have to take out a loan in the future (income thresholds apply on this and other educational credits and deductions).


Furthermore, if you pay for tuition and fees out of your personal funds or current earnings (AOC credit and LLC credit) there may be tax advantages for doing so–if you qualify.  IRAs also allow you to save in a tax efficient manner for educational purposes, if done appropriately.  Also, many employers will pay for educational costs of employees in many instances–so if you are currently employed–you may want to inquire into the possibility at your company.


Always remember that time expands–based on your level of procrastination that your mind allows! 


It is important that you make the decision now to save for your (or your loved ones) educational expenses in an efficient manner so that you can achieve your educational goals and live out your life more abundantly while here on planet earth.


All the best toward unlimited educational success and consistent saving so that you won’t achieve less…


Return to Top



Return from Education Funding Vehicles & Wealth Building to More on Education Funding

Return from Education Funding Vehicles & Wealth Building to Why You Must Properly Establish an Emergency Fund

Return from Education Funding Vehicles & Wealth Building to Education Planning & Personal Finance

Return from Education Funding Vehicles & Wealth Building to Education & Wealth Building

Return from Education Funding Vehicles & Wealth Building to College Graduates & Wealth Building 

Return from Education Funding Vehicles & Wealth Building to Growth & Wealth Building

Return from Education Funding Vehicles & Wealth Building to Education Planning Basics



Copyright©–2014–2023––All Rights Reserved



Education & Wealth Building

Learn why you must learn as you earn so that you can turn a new corner as you build wealth and improve your financial health…


It is important that you have a yearning within to do the needed learning as you build wealth–and it all starts with a thought by you to plan for the success that you desire and following through on that plan by learning as you earn so that you can increase your net worth at this time and educate yourself financially throughout your lifetime.


By approaching your financial journey with a learning spirit you can achieve more than a little bit and improve upon where you now sit (your current financial position) and avoid a financial pit!


In this discussion will discuss ways that you can “educate yourself financially” and achieve more at the various stages in your life.


Know upfront what is expected of you if you desire to make your dreams come true

You must know your thought process and your responsibility as you pursue the goals that are the most dear to your heart.


Do you desire to pay off or pay down your debt?   Do you desire to purchase the car or home of your dream?  Do you desire to retire and live the life that “you” envision and not the life that others put you in position to live?


To reach those and other goals you must know your current financial condition, know your current credit position and know how effective you are managing your overall finances so that you can further your education and learn what you need to know to make your earnings grow and achieve results that will show!


Have the right mindset as you pursue the goals that you desire

Do you have the mental qualities that are needed for managing your finances in the current economy?


Even if you don’t, you can now learn how to use your mind or mental processes to achieve more in your daily life and particularly as it relates to building wealth and attaining the goals that will allow you to live your life on your terms—not the terms of creditors or others who do not have your best interest in mind.


Always have the desire to learn more so that you can possibly open a new door

Whether you utilize this site, other sites and other sources for your financial education you must  have a yearning or desire to learn and achieve more.


You cannot go about life expecting others to do it for you, even if you have financial planners and advisors working on your behalf.  It is important that you gain a basic knowledge of what is expected of you as you manage your finances and move forward.




It is important that you gear your mind up for continuous learning and you have an outlook or expectation about your future that is realistic (doable by you), inspiring (takes your spirit to achieve to a higher level) and will take you where you need or desire (you plan for success in a more definite manner) to be.


Your daily thoughts along with your realization that financial education and wealth building is a lifelong process can put you in a better position for financial success and put you in position to give it your absolute best.


You can go through life with more confidence about your future and you can enjoy your life in a manner that is more definitive—while many others live in uncertainty and let worry, anxiety and fear rule their mindset on a consistent basis.


You can have a “brain explosion” as opposed to “brain erosion” and do more on a daily basis than many do in a week if you educate yourself appropriately and you go after your dreams with real passion on a daily basis.


By choosing to educate yourself at this time and throughout your lifetime you are showing a real commitment to enhance your future in ways that are more beneficial for you and your family.


Isn’t it time that you center your life and live your life with peace, joy and happiness as the centerpiece–and not have peace, joy and happiness occur on the periphery or as an occasional occurrence!


All the best to your educational success as you turn a new corner, improve your financial health and consistently build wealth…


Return to Top


Return from Education & Wealth Building to The 3 Step Structured Approach to Managing Your Credit & Finances

Return from Education & Wealth Building to Consistency & Personal Finance

Return from Education & Wealth Building to Random Thoughts & Wealth Building

Return from Education & Wealth Building to Imagination & Personal Finance

Return from Education & Wealth Building to Focus & Personal Finance

Return from Education & Wealth Building to Re-focusing your Mind for Success

Return from Education & Wealth Building to How to Obtain a Financially Alert Mind


Copyright© 2014—2023——All Rights Reserved


Education Funding Vehicles & Wealth Building

Learn how you can fund your and your loved ones education so that you can build wealth efficiently and achieve more during your lifetime… More on Education Funding… As the year ends and families gather around the table, the topic of education funding for a planned child, a newborn, a child whether toddler or teen … Continue reading

Education Planning & Wealth Building

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

 More on Education Planning…

As the holiday season kicked in and the creator of 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 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 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



Pre-paid Tuition

529 Plans

Many Other Ways


Retirement Savings for Education








Many Other Ways


Current Income




Sideline Income


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


Many Other Ways





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 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…


Return to Top


Return From Education & Wealth Building to All About Education Funding


Return From Education & Wealth Building to Life Stages of Financial Planning


Return From Education & Wealth Building to Who is the creator of


Copyright 2014-2018® All Rights Reserved