Posts Tagged Financial Planning

Does Life Insurance Fail as a College Savings Vehicle?

January 22nd, 2018


In the overall realm of financial services, you would be hard pressed to find anyone who truly revels at the thought of talking about life insurance. One reason for this is because most people don’t want to dwell on what it would be like when they are gone.

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Life Insurance Versus the 529 College Savings Plan

January 15th, 2018


Which Will Provide the Best Outcome?

For many people, having a college degree can help to provide them with better job opportunities, which can also mean more choices. Unfortunately, getting that degree can come with a hefty price tag.

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How to Set Yourself Apart in Your Clients’ Minds

January 8th, 2018


Regardless of how long you have been involved in the insurance business, you are likely well aware that there are many, many other insurance and financial professionals who are offering the exact same products and services that you do.

So how is it, then, that some of these advisor’s struggle from one month to the next, while others seem to effortlessly earn top dollar?

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No Funding Limits on Tax-Advantaged College Savings?

December 26th, 2017


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.

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Can Life Insurance Really Pay for a College Education?

December 4th, 2017


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.

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A Safer Alternative for College Planning

December 1st, 2017


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.

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Tax Implications of Using Life Insurance Cash Value for College Expenses

November 17th, 2017


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.

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Using Life Insurance to Save for College?

November 10th, 2017


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.

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Getting Around the College 529 Plan Spending Limits

November 3rd, 2017


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?

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Tax-Free Strategies to Save for College Even If the Unexpected Occurs

April 18th, 2017


When most parents and grandparents think about setting aside funds to save for a child’s future college education, they will oftentimes automatically consider using a 529 college savings plan. But this isn’t necessarily the best way to go about ensuring that there will be a certain sum of money available for college expenses.

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