Essential Financial Strategies is pleased to announce a new service–The Strategic College Plan. This service helps families figure out how to pay for college while minimizing the future burden of college student loans. Using a sophisticated knowledge base, Rorik Larson assists families to predict their Expected Family Contribution.
“They are so lucky!” How often have I heard this exclaimed? If you are like me, you’ve probably heard something like this a whole bunch of times. In varying ways I say it to myself as well while not considering in the moment how they created the luck.
Holiday Spending Is January a painful month financially? For many people, January it is a not great month for their finances. One reason folks struggle in January is because they overspent in the December holiday season. Gifts, meals out, parties and more all take a toll on personal finances. Having a spending plan for the
9/23 Do you hold individual stocks? Consider the size of your portfolio you may be taking too much risk. Just consider the wide swings of stocks like Tesla or the problems of Enron and others in the past. A diversified mutual fund or Exchange Traded Fund gives you the ability for a relatively modest
Coverdell Educational Savings Accounts (ESAs) are a useful source for education funding. Often, these accounts are overlooked because of their limitations. By understanding ESA rules, proactive parents can provide kids money education not just education funding. Understanding the ESA Rules Contributions: Anyone may contribute to an ESA for a child under 18 years of age.
College 529 plans get their name from the section of the Internal Revenue Code that defines them. These college savings plans are a tax preferred “wrapper” for dollars earmarked for education. Another name for the plans is Qualified Tuition Programs (QTP). State governments establish and run these plans. There are two types of QTPs. The
The decision to save for our children’s education or retirement is a vexing one. For me, the bottom-line is that there are no scholarships or grants available for retirement. Don’t misunderstand, I am not suggesting our children’s education is unimportant and not worth our money. It may be possible to fund both. I’ll come back