Education planning for your children can be a major financial consideration. Planning early allows you to take advantage of the time value of money and help minimize the savings requirement.
Consideration should be given to one or more of the following strategies when trying to maximize your college planning:
Prioritize your education objective with your insurance needs, retirement needs, major purchases and current income needs
Develop an effective savings strategy that considers asset allocation and takes advantage of education plans
Consider the various education funding accounts -- Qualified State Tuition Plans (also known as 529 Plans#), Uniform Transfer to Minor Accounts (UTMA) / Uniform Gifts to Minor Accounts (UGMA), Coverdell Educational savings accounts and prepaid tuition plans
Ensure college expenses are properly planned -- include tuition, room and board and living expenses. Factor in an inflation rate for the rising cost of tuition. Should you consider planning for post-graduate studies? Do you expect your child/children to receive scholarships or financial aid?
#Securities offered through NYLIFE Securities Inc. (member FINRA/SIPC).
Andrew Bondar is also separately registered as an investment adviser represantative "IAR" under Eagle Strategies LLC, a Registered Investment Adviser, offering advisory services in the states of CA and OR. As such, these services are strictly intended for individuals residing in CA and OR.
Andrew Bondar is an agent licensed to sell insurance through New York Life and may be licensed with various other independent unaffiliated insurance companies in the states of CA Insurance License #0B81403, and OR. No insurance business may be conducted outside these states referenced.
Andrew Bondar is a Registered Representatives of and offers securities products & services through NYLIFE Securities LLC, Member FINRA/SIPC, a Licensed Insurance Agency, 4366 Auburn Blvd. Sacramento, CA 95841 (916)483-0300. In this regard, this communication is strictly intended for individuals residing in the states of CA and OR. No offers may be made or accepted from any resident outside the specific states referenced.
Bondar and Associates is not owned or operated by NYLIFE Securities LLC or its affiliates.
Eagle Strategies LLC and NYLIFE Securities are New York Life Companies.