By: Oxana Saunders
Last week my son’s school, Saint Stephen’s Episcopal School in the Sarasota-Bradenton area, held its own graduating ceremony at Harvest United Methodist Church in Lakewood Ranch. Young graduates walked across the stage, turning their tassels to the right and posing for photos. Dr. Janet Pullen, Head of Saint Stephen’s, gave a wonderful speech along with featured graduation speaker and Saint Stephen’s alumnus Michael Schick.
The church was filled with joy, pride and a sense of accomplishment. Feeling tremendously happy for all the 78 young men and women graduating that day, I could not help but think that in about eight years my son will be one of those young people and I will be one of those parents. While this was a happy and exciting thought, it brought me back to the realities of what happens next.
The aspiration of many parents, including myself, is to send their children to college after they graduate from high school. With that comes a strenuous college selection and touring process, and even more difficult financial decisions on how to pay for it. College funding can be quite complicated and involves multiple areas of personal finance such as investments, assets, taxes, loans and financial aid. It can all be quite overwhelming.
One of the easiest and simple steps we can take today to make a big difference in our child’s college funding is to open a 529 college savings account. The article below, from SavingforCollege.com describes the top seven benefits of 529 accounts.
Oxana Saunders is the Vice President of Path Financial, LLC. She may be reached at 941.894.2571 or firstname.lastname@example.org