How Much Will College Cost and How To Plan For Those Costs

August 25, 2020

Wrapping up with our education theme this month I would like to discuss how Troxell Financial can help alleviate some stress as it relates to planning for your child’s college education.

The average annual increase of college tuition costs in the past three years has exceeded 3%, which is well above inflation.  And let’s not forget, the average cost of attending a 4-year private university is approaching $47,000 per year, which means the projected total cost for today’s newborn is absolutely staggering.

Based on those numbers I am sure you can tell, planning for college education matters and it’s never too early to start.  Please bear in mind that your child’s college funding plan requires a disciplined approach that emphasizes consistency with your overall goals and objectives.  We can help you determine how much you need to (and can) save for your child’s tuition.  Our technology allows us to home in on specific universities you may have in mind or provide a general idea based on your child’s age and current tuition costs.  We can help create an investment plan, a strategy, and choose the right savings vehicle to achieve your goals.  Don’t forget that your biggest advantage is time – the sooner you start saving, the more time you have to grow your college fund through long-term compounding.

Please click here to learn more and call your trusted wealth management team here at Troxell Financial to discuss your options – paying for college is a very personal decision that can impact your overall financial plan.