Recent research estimates that the average amount it costs to raise a child equates to roughly $12,800 – $14,970 per child per year. From the time the child is born until he or she turns 18, you can expect to spend well over $200,000. Surprisingly, this amount does not include the cost of education. One of the most neglected areas of personal finance is education funding for children. On the flip side, education funding is actually one of the easiest financial hurdles to overcome. So why aren’t more people doing it?
Education Planning from Wheeler Financial Solutions
Education savings plans can be confusing. Many people feel overwhelmed and intimidated at the thought of saving for one more thing. The key to success is working with someone who knows your overall investment strategy and knows how to include saving for educational goals.
- Understand how savings will affect your child’s or grandchild’s ability to qualify for financial aid
- Discover implications for your income, gift, and estate tax situation
- Develop a plan that works with your existing investment goals
With the many education savings plans available, Wheeler Financial can offer a solution that doesn’t interfere, but will complement— your other investment planning goals. It’s never too early to start planning for your child’s future. Contact Wheeler Financial to get started today.