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One year of college in California now costs $20,000-$25,000 per year. Over the past 10 years tuition has increased 6% per year (more than double the inflation rate). Providing for your child’s college education is one of the largest financial obligations your family will have, so it’s important to begin saving now for your children’s education.
It’s also important to save these college funds in the right account. Choices include 529 Plans, Coverdell Savings Accounts, and UGMA/UTMA Accounts. Each choice has its own set of characteristics for asset ownership, tax advantages, and impact on financial aid.
We can determine how much to start saving each month and recommend the best college account to pay for that eventual day when your child begins college.
Contact us to learn more… |
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Email us us today to set up a complimentary introduction meeting.
Feel free to give us a call
if you have any questions
or would like to get started
with your financial planning
at 619-688-1192. |
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