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Preparing For Education Costs
If you're wondering whether you're saving enough money to pay for your child's education, you're not alone.
Parents everywhere are concerned about the rising costs of a college education. In 15 to 20 years, it will take an estimated $170,000 to $230,000 to finance your child's college tuition and living expenses, depending on the type of school they choose to attend.
The best way to curb your worries is to identify a plan for the savings you want earmarked for your child's college education. Here are the basics:
- Start saving right away. Don't wait to begin saving for your child's education. A little savings can compound and grow over time. And your goals will be easier to manage with more time.
- Develop a plan. There are many ways to save for college. Learn about the different investment strategies available for college savings. By planning properly, you'll be better prepared to provide your child with an education designed to launch a bright future.
- Get expert advice. Contact an H&R Block Financial Advisor for personalized advice and a free financial review. He or she will help you invest wisely.
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