Podcast Episode 22: Should You Save For Your Kid’s College Education?
by Financial Design Studio, Inc. / July 25, 2023Should you save for your kid’s college education? The answer depends…so here’s what you need to consider! In this episode, we walk you through how we as advisors and as parents consider funding college. We also breakdown the different tools you might consider using to accomplish this.
Behind the Designs Ep 22 : Should I Save for My Kid’s College Education?
Take a listen right here, or head over to your favorite steaming platform!
Key Moments
2:54 How do we walk clients through this question?
9:15 Who should be responsible for paying?
11:01 What accounts are available for education savings?
13:23 When should you use a 529 plan?
19:25 Where should you save if you want more flexibility?
23:18 Does switching schools impact the account you use?
26:08 What should you know about college loans?
Links for Should I Save for My Kid’s College Education?
Maybe you have a high school student and are ready to start filling out the FAFSA!
Read Rob’s article about How Should Parents Save for a Student’s College Education.
Watch our video to learn about the Different Ways to Save for College.
Stay Connected!
If you want to hear even more episodes, like this one, be sure to subscribe to the Behind the Designs podcast on your favorite streaming platform! The Behind the Designs podcast shares with you an inside perspective at how financial advisors think about certain topics. We’ll see you in the next episode.
Credits for Episode 22
Executive Producer : Anna Lewis
Host : Michelle Smalenberger, CFP®
Guests : Steve Smalenberger, EA; Emma Smalenberger
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Schedule a quick call with our financial advisors.
Recommended Reading
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Episode 61: A Crash Course on Equity Compensation
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Financial Design Studio, Inc.
We are financial advisors in Deer Park and Barrington, IL. A team with a passion for helping others design a path to financial success — whatever success means for you. Each of our unique insights fit together to create broad expertise, complete roadmaps, and creative solutions. We have seen the power of having a financial plan, and adjusting that plan to life. The result? Freedom from worrying about the future so you can enjoy today.