In this episode of Simplifynance, host Rachel Stewart and Nathan Ollish, Financial Advisors, tell us how to tackle saving for higher education. They cover the high points to get you started, from how to determine expected costs, understanding the multiple funding options, and ultimately how to plan for the part that you’d like to cover.
● 1:00- When to start saving for college once you have a child.
● 2:03- Planning is generally guided by your personal experiences as a student.
● 2:42- Public or Private/in-state or out-of-state university – first step in the process
● 3:04- The cost of education is outpacing generation inflation.
● 4:46- What’s your timeline? It is important to start saving early.
● 6:00- Alternatives to subsidize your child’s education outside of a 529 plan.
● 7:20- Two ways to figure out how much you need to save for education
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