College

Nelson Mandela famously said that “education is the most powerful weapon which you can use to change the world.” For many families, investing in a child’s education is a central financial planning goal, but the cost of doing so has grown rapidly.

For many households, college decisions are a cause for celebration. However, college also represents one of the largest expenses and sources of financial stress in our lives, on par with retirement or buying a home.

Those four years when your child is in college can be a rollercoaster ride, but the scariest part for high-earning parents can be figuring out how to pay for it. It can be tempting to put your own goals on hold while you shoulder the big-but-temporary new burden. A better strategy for paying for college while keeping your goals on track is to build the right short-list of colleges together with your child and maximize financial strategies. For families that make too much to qualify for financial aid, college funding likely won't come from just one source. It’s about putting together a plan that draws from several buckets.