Much like saving for retirement, when you’re saving for college, you need to have a goal. Where will your child go to college – public or private, in-state or out of state? Wherever your scholar plans on attending, you can estimate the annual cost using this nifty calculator.
Once you’ve decided on how much you would like to contribute to Junior’s education, and how much it will cost, you need to decide the best saving vehicle to achieve your goals. Watch future posts for a discussion on the different methods to save for college, and which type of account is right for your goals…