Home » University Articles » People's Financial Advisor to guide consumers how to best save for children education
People's Financial Advisor to guide consumers how to best save for children education
Technology enables middle-income American to send their kids to college with less stress.
SALIDA, CO, May 18, 2010 /University PR News/ -- People's Financial Advisor (PFA) www.peoplesfinancialadvisor.com , a leading provider of online fiduciary financial planning services, today unveiled its Financial Plan includes guidance to its clients on best ways to save for kids education.
Mr. Robert Schumann, Chief Advice Officer at People's Financial Advisor explains: "The best way to save for future college expenses is to put money in the most effective place to build wealth the fastest. That often means maximizing our contributions to our 401(k) or IRA. Money saved in a 401(k) or IRA can be used to pay for college and under current law does not reduce eligibility for financial aid. The best way to pay for current college expenses is to take money from the most advantaged source that still allows your wealth to grow the fastest. That may mean using government subsidized loans and tax credits, paying out of current income or pulling equity out of your home."
People's Financial Advisor recommends you how to maximize tax benefits while saving for your kids college. For example, PFA explains that you should gift highly appreciated assets to your child during college years because the child can sell assets at lower tax rate and use education tax credits to offset any taxes. It further explains why it is usually better to keep assets in parents' name until the child receives an invoice for college expenses.
Mr. Schumann continues: "The government and financial institutions will lend you money for education just as they will lend you money to buy a home. But no one will lend you money to pay for your retirement. That's why most of us should not be setting aside money for children's college until we have adequately funded our own retirement."
Mr. David Ron, Co-Founder & CEO of People's Financial Advisor said: "Saving money in 529 plans reduces your child, grandchild's or your own eligibility for financial aid and may limit the full use of education tax credits. For most Americans there are more effective and flexible ways to save for college than Section 529 plans."
People's Financial Advisor is a leading provider of fiduciary financial planning services. Designed to help Middle America gain financial independence and peace of mind, convenient online services are balanced with interactive advisor consultations. FinancialAdvice4Me offers a robust portfolio of services, based on a proven behavioral financial approach, known as the Cambridge Methodology. Services include a free online assessment, online financial planning development tools and advice dealing with all aspects of financial decisions, opportunities and options. For further information, please visit http://www.PeoplesFinancialAdvisor.com.
---
Press release service and press release distribution provided by http://www.24-7pressrelease.com |
|
|
Press Release Contact Information:
Bob Schumann
FinancialAdvice4Me, LLC
Chief Advice Officer
134 F. Street
Salida, CO
USA 81201
Voice: 720 897 7966
Fax: 480 287 9293
Website: Visit Our Website |
|
|
|
|
| UNIVERSITY ARCHIVE SEARCH |
|
|
| |
|
|
Advertise With Us |
About Us |
Contact Us