Disclosure: This shop has been compensated by Country Financial. All opinions are mine alone. #TakeSimpleSteps
My son started middle school this year and I realized just how soon he will be going away to college. Most parents don’t want to think about their babies growing up and moving out someday to go to college. It seems far away at first, but then the reality sets in and you start to realize that you need to start saving for your kids college education! This year, it dawned on me that my son will be starting college in only 7 years! If we don’t start saving for college now, it may be too late later! I keep hearing how paying for college gets more and more expensive and I want to be proactive!
We started a 529 Plan when both kids were babies, but we just haven’t contributed to it over time. If anything, it has just been sitting there. I’ve started to think a lot about how much we should start putting in and how much it will help us out for the future. I figure, even if we start out small, it’ll still help them in the future.
There are a lot of calculators online and when I entered my son’s age into it, the cost for a public in-state college was $155,000! And, that is for a public school! So you can see how important it is to start saving for college education for your kids as soon as you can. It makes me feel good that I am giving them a head start in their adult life. I really don’t want my kids to start their years after college in debt! Nor do I want to go in debt sending them to college!
If you’re wondering what a 529 Plan is, it is a savings account that the government will let you build TAX FREE. It’s similar to a retirement account, but for your kids college savings! It will save you money in the long run. $50-100 a month may seem like a lot to sacrifice right now, but just think about how much you’ll have amassed for them over time with interest!
My husband and I enjoy vacationing and have some expensive hobbies. We don’t want to make ends tight once he starts college. And, his sister is only a few years behind him! It makes sense to start saving for college now, so that it doesn’t sneak up on us!
If you’re like me and are starting to realize time is flying, you may be starting to think about your child’s college education. Be sure to reach out to COUNTRY Financial to help you set up a 529 College Savings Plan today!