Is the Life Insurance Premium for College Savings a Tax Deductible Expense?


For many people who are helping a child, a grandchild, or other loved one to save for their college expenses, using a 529 college savings plan may not be enough. For instance, there are a number of potential drawbacks to using this type of educational funding plan, such as: Read the rest of this entry »



No Funding Limits on Tax-Advantaged College Savings?


Yes, It Is Possible

As we move towards the end of another year, many investors are thinking about how they can make the most of their tax-advantaged savings accounts – and for anyone who is assisting children or grandchildren with funding their higher education in the future, this may include college funding plans. One of the most popular of these is the 529 college savings plan. Read the rest of this entry »



Can Life Insurance Really Pay for a College Education?


Many parents – regardless of whether their children are newborns, toddlers, grade schoolers, or even in their early high school years – worry about the consistently rising cost of college education. And this is a very viable fear.

According to Inside Higher Ed, one year at a public two-year college, for the 2017-2018 school year, averaged $3,570, while private non-profit four-year institutions averaged nearly $35,000 per year.1 So, over a four-year time period, many parents could be facing a price tag that rivals that of a home mortgage…or worse. Read the rest of this entry »



A Safer Alternative for College Planning


For years, most people have been led to believe that the money placed inside of qualified plans – such as those that are used for retirement and college savings – should be invested in volatile financial vehicles like stocks and growth mutual funds. One of the primary reasons for this is because these types of investments can oftentimes better meet or beat inflation due to their POTENTIAL for a higher return. Read the rest of this entry »



Five Reasons High Income Families Should Still Apply for Financial Aid


One of the roadblocks in working with Category 3 families is their unwillingness to fill out a FAFSA. In their words, they are fairly wealthy and though they don’t have a detailed plan to pay for their children’s education, they are certain that they won’t qualify for needs-based aid. Read the rest of this entry »



Tax Implications of Using Life Insurance Cash Value for College Expenses


When considering the use of life insurance as a college savings vehicle, many people think only of the death benefit proceeds, and in turn, they have the belief that someone has to die in order to “benefit” from the plan. Read the rest of this entry »



Using Life Insurance to Save for College?


The Policy Used Can Make a Difference

With the cost of a college education raising rapidly, parents and other loved ones who want to help out with a child’s future college expenses are seeking options. One of those possibilities is using life insurance.

But, while this financial vehicle can provide numerous college savings-related advantages, not all life insurance plans are created equal. So, it is important to ensure that clients who opt to use life insurance for college education costs are going with the proper option for their needs. Read the rest of this entry »



“I Do Roughly 65% of My Total Revenue the Last Four Months”


It’s no accident that the best hitters on a baseball team bat third and fourth in the lineup. They are most likely to deliver a big hit that will clear the bases and give the team an early lead and big advantage. Read the rest of this entry »



Getting Around the College 529 Plan Spending Limits


For those who have hopes of a child or grandchild attending college in the future, a 529 college savings plan can be one way to set aside funds in a tax-advantaged manner now, while also using the money tax- and penalty-free for qualified expenses down the road.

But everyone knows that one of the few constants in life is change. So what happens to the money in a 529 college savings plan if the child / beneficiary decides not to pursue higher education in the future? Read the rest of this entry »



Why Life Insurance Can Provide the Ideal College Planning Tool


In today’s world, as the competition for jobs has become much more fierce, a college degree is imperative to have in order to even just get in the door at some companies. Yet, although this requirement may be essential, it can also be extremely costly. Read the rest of this entry »