Due to the constant rising cost of today’s college education, there has never been a greater incentive to start funding your child’s college education early. However, before putting aside any funds for either your children, grandchildren, or other dependents, it is essential to determine how much you are both willing and able to fund future education costs.
Subsequently, it is imperative to understand which investment best suits your needs. As with all investment options, not all strategies are created equal. There are many common strategies for establishing college savings including Coverdell Education Savings Accounts, UTMAs, UGMAs, and most notably, 529 Savings Plans.
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We hope you find the article both insightful and relevant. If you have any questions or need further assistance when choosing from the wide variety of savings options available, please don’t hesitate to contact us at [email protected].
Be sure to visit Aramcoexpats.com next month for another article in our Wealth Strategies series.