Investment Alternatives
Sixty percent of Americans report that they are still using low-yielding savings accounts to meet college savings and other financial goals.* That may be one of the least productive ways to generate college income.
Fortunately, there are numerous options that can make paying for college possible including U.S. savings bonds, zero coupon bonds, mutual funds, annuities, educational IRAs, state-based pre-paid tuition plans, state-sponsored college savings programs and life insurance.
Time is probably the single most important factor when planning your investment strategy. If you have 10 years or more before your children will be entering college, you can opt for a plan that takes advantage of the equity markets. On the other hand, if your children are going to begin college within the next several years, you probably don't want to expose yourself to too much investment risk.
Planning for college is a complex task that is most effective when tailored to your specific goals and needs. Our financial services professionals can help you expand your knowledge of the strategies and tactics that can lead to successfully funding your children's college educations.
Whether you are a recent college graduate who is just starting out in a career, a person who has been in the workforce for decades or someone currently enjoying retirement, it is important to assess the savings and investment opportunities that are available to you.
Whatever your current situation is, establishing short-term and long-term financial goals is a significant step toward meeting your future commitments and personal dreams. Reevaluating those goals as your circumstances change is equally important. As the levels of your responsibilities and family obligations change, so may your risk tolerance for investment.
Let us help. Our experienced financial services professionals can help you identify your short-term and long-term financial goals, determine whether or not your current savings and investments will enable you to meet your goals, and guide you in your savings and investment strategies.
* According to a recent telephone poll conducted by Princeton, N.J.-based Opinion Research Corporation for the Society of Financial Service Professionals.