Answering this question can help you create a realistic savings goal. But your answer depends on many different things, including where your child goes to school and when. That's where we come in.
Regardless of how old your child is, we can work with you on developing a strategy that can help make your goal a reality. Your local Edward Jones advisor will look at your entire financial picture, including what other goals you are saving for – like retirement – so your education savings strategy makes sense for your family.
Where to start
As a parent, you want to make sure nothing stands in your child’s way – especially the ability to pay for their schooling. But with the rising costs, it can be hard to know where to start.
By doing some homework of your own, you and your Edward Jones advisor can put together a strategy to meet your education savings goals and balance these with your other goals, like retirement.
Consider the costs
Costs vary by school, so consider what type of school your child may want to attend. It may be helpful to have a range of options if you don't know the answer right now.
Decide how much you want to cover
Will you pay all of your child’s expenses? Half of everything? Tuition but not room and board? Remember, there’s no one right answer to this question. You need to decide what works best for your family’s personal and financial situation. After you determine your role in providing for education, you and your Edward Jones advisor can talk about how much you need to save to help get you there.
The earlier you start saving, the better
Time can be one of your biggest assets, so don’t delay. Saving a certain amount every month can make a big difference in reaching your goal. And if you’re starting later, that's OK. Start now – so you can get back on track.
We can help
Talk to your Edward Jones financial advisor today to get started.