Education Planning

While a college education is a worthwhile investment, it is one of the most significant expenses most families ever face. Tuition costs are rising each year, with the annual price of a public university education increasing by nearly 7% over the last ten years. Taking a proactive approach to education planning is the best thing parents can do to prepare to put their children through college.

Education Planning Options

You can simplify your financial objectives and expenditures when you save and plan for your children’s education. Having an education plan in place also teaches children good financial habits. There are several education planning options, including:

529 Savings Plans
Coverdell Savings Accounts
Trust Accounts
Custodial Accounts

The most common way to save for educational costs is by opening a 529 Savings Plan. These plans have many benefits, including tax advantages, high contribution limits, favorable financial aid treatment, and low maintenance needs. Before choosing a savings option, you should evaluate your specific goals and choose an investment option that aligns with those objectives.

Partner With an Education Planning Professional

At Etiquette Financial Partners, we can evaluate your financial situation and develop a customized savings plan for the education of your children or grandchildren. We specialize in 529 Savings Plans and systematic investing strategies. Contact us today to schedule a free consultation.

Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.

With His Guidance We Have Raised 4 Kids, Navigated College, Owned Several Businesses, And Are Now Looking To Retirement

Eric has been our advisor for over 20 years. He is more than just a financial planner, he takes care to look at the entire picture as it stands today and what your life plans hold. He is mindful to ask the right questions to help guide us thru our many stages of life. We started with Eric as a newlywed couple with a small savings and a dream. He has help us grow, act as a sounding board for broad range of financial topics, and checked in when things may be going astray in the market. With his guidance we have raised 4 kids, navigated college, owned several businesses, and are now looking to retirement. Thanks for being there - We really appreciate it!!

- Chuck and Julie R.

This statement is a testimonial by a client of the financial professional as of {01/27/2023}. The client has not been paid or received any other compensation for making these statements. As a result, the client does not receive any material incentives or benefits for providing the testimonial.

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