Building a family4 of 7Your beautiful children will surely be brilliant and want to pursue a higher education.The costs of college continue to rise, however, and "it's quite difficult for anybody to save the total amount needed for college these days," Levine says. But the earlier you start saving for college, the better off you'll be.Levine says he often sets up college savings accounts for clients with infants. He likes 529 plans, which can grow tax free and, as long as funds are used for college expenses, their withdrawal will not trigger taxes. A financial planner can help you navigate through 529 plan options."The key is to have a discussion and to get started saving because college costs are far and away exceeding inflation," Stroup says. Related Articles:Find a financial plannerBuild a secure retirementSavings strategiesA college investment planRelated Links:Avoid divorce disasterGuaranteed income for lifeRoth IRA vs. 401(k)How to leave retirement money advertisement
Your beautiful children will surely be brilliant and want to pursue a higher education.
The costs of college continue to rise, however, and "it's quite difficult for anybody to save the total amount needed for college these days," Levine says. But the earlier you start saving for college, the better off you'll be.
Levine says he often sets up college savings accounts for clients with infants. He likes 529 plans, which can grow tax free and, as long as funds are used for college expenses, their withdrawal will not trigger taxes. A financial planner can help you navigate through 529 plan options.
"The key is to have a discussion and to get started saving because college costs are far and away exceeding inflation," Stroup says.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.