College Savings Plans
Whether the child in your life is 13 years old, 10 months old, or due any day, it’s never too soon to start planning. Thinking about the costs involved in a child’s education can be overwhelming, but the earlier you begin saving, the longer your money can work for you. Making prudent investment decisions can also make a big difference.
Once upon a time, college was a dream some parents had for their children and a goal youngsters might have for their future. That was then. Today, college isn’t just a dream; it’s practically a requirement.
Unfortunately, this greater earning potential is coming with an ever-increasing price tag. Today, the four-year cost of many private colleges is well over $100,000, according to the College Board, and by the year 2020, the cost of a four-year education could be more than $210,000 for a private school and almost $160,000 for a public school.
A college education for your child or grandchild is still attainable, but it is not automatic. The good news is, there are strategies that can help make it happen. The most important thing you can do is to start planning today. Your financial consultant knows the questions to ask and has the answers you need.
To best serve you, Byron Financial Services has three offices that have full or part-time representatives.
- Byron: At Byron Bank (815-234-4075)
- Oregon: Corner of Highways 2 and 64/101 N. 4th St. (815-732-1528)
The LPL Financial registered representative associated with this site may only discuss and/or transact securities business with residents of the following states: AR, AZ, CA, CO, FL, GA, ID, IL, MD, MN, MO, NC, NV, OR, SC, UT, WA, WI, and WY.
Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured Byron Bank deposits and are not FDIC insured. These products are not obligations of the Byron Bank and are not endorsed, recommended or guaranteed by Byron Bank or any government agency. The value of the investment may fluctuate, the return on investment is not guaranteed, and loss of principle is possible.
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