With college costs continuing to rise faster than the rate of inflation, financing a child’s higher education can be a challenge. It is also important to remember that education is not just about fees for college tuition. The requirements of attending college is growing with technological advancements.
What will your children require when they attend school. Clothes, books, Kindles, iPads, laptops, mobile phones, accommodation? It all has to be carefully planned and catered for as the costs mount up.
There are a number of different savings plans specifically designed for parents planning to pay for their children’s education. LDN Wealth can eliminate the hassle of planning for your children’s education fee planning.
The type of education planning services LDN Wealth offers include:
- 529 College Savings Account
- set money aside tax free money for future college costs.
- Custodial Account
- If you want to give a minor a gift of investments or cash to go toward their college fees, opening a custodial account may be a solution.
- Coverdell Education Savings Account
- money can be contributed to this account at any time from kindergarten to high school and beyond for future college costs.
- Education Savings Account
- a portfolio of your personal investments placed in a separate “college savings” account. Saving bonds and zero coupon bonds are popular investment options.