Wow! We are wrapping up the fourth month of 2019 and it’s crazy how time can fly by. I heard it said before that children only have 18 years to be children and after that they spend the rest of their lives being an adult. However, most kids once they become adolescents, sometimes even sooner, they start to understand the family dynamic. Does the family have enough money, do I need to start working earlier than planned, should I even ask my parents for money? I know I asked myself those questions, especially when I started driving. I do pride myself in being responsible during that time, but it made me grow up too fast. I didn’t have 18 years to be a child. I had 15 years.
If we can help parents avoid this situation, then we as a company are doing our jobs right. We want to educate all parents on the benefits of planning early. Most people are familiar with a 529 plan, but that only allows you to pull money out for when your child goes to college. What if things change, what if your child says I don’t want to go to college, what happens to that money? In a 529 you will be taxed a significant amount of money on basically your savings. Why would you want to be taxes on your own “savings” account?
What if we can educate you on another plan that can guarantee you will receive 100% of your money? Education planning is not only for planning for higher education, it’s also educating you as the parent to plan for a financially independent future for your child. Give them a fighting chance to get them out of college debt free and to start the rest of their adulthood on a better foundation than most people can say they started on.
Even if your child is a freshman in high school, it’s not too late to get on the right education plan for you and for your child.
Author: Athena Cochrane, VP of Operations
*Ready to schedule your free consultation? Please do so by clicking on this shortcut link, https://pattygfis.com/free-consultation/ or by clicking on the tab at the top of the page that says Free Consultation.
**Remember to check out our free e-Book on our home page, https://pattygfis.com/ all we ask is for your email.
***Questions, comments, concerns please reach out to us here on the website, https://pattygfis.com/contact/ or you can send an email to [email protected]. ****We created a Facebook page that provides financial & insurance tips, community, answers and solutions. Click on the link below or search Patricia Hjort, Inc. dba Grace Financial & Insurance Services in the search bar in your Facebook home page. https://www.facebook.com/GraceFinancialandInsuranceServices/