Monday, February 14, 2011 Planning For College
Do you have children or grandchildren and you're worried about saving enough for their college tuition? Of course, you're not alone... this economy has not made it any easier on us to save for our children's future. Yet, it is essential that we engage in this type of planning. The less debt your child or grandchild has out of college, the better.
Pennsylvania has two 529 programs. One in particular is called the Guarantee savings program. Unlike other states that are cutting these programs, Pennsylvania's is growing. However, you must be careful in investing in a guarantee program, because it may not be as guaranteed as you think.
529's may be the answer for some families that want to plan for college, but they are not a one-size fits all solution. For a recent look at the state of 529's, check out this article from the weekend's Wall Street Journal titled "Prepaid College-Savings Plans Take Another Hit."
We regularly help young couples and also grandparents wishing to save for their child or grandchild's education. If we can be of assistance, please do not hesitate to call us at (215) 706-0200. |