Invest in Your Child’s Future

Tax-efficient strategies to grow college savings without derailing your retirement goals.

Education Funding

All parents dream of providing their children with the best opportunities, and a quality education often sits at the top of that list. Yet, the rising cost of college can feel daunting, leaving many to wonder how they can possibly afford such a large investment. We understand this concern but also recognize that higher education is a powerful foundation for a solid, successful future.

Barnum Financial Group believes that investing in education is one of the most impactful gifts you can give. We’re here to help you navigate the complexities of college funding, turning what seems like a distant dream into a clear, achievable plan.

We’ll guide you through effective options such as:

529 Savings Plans: Tax-advantaged accounts specifically designed for education expenses.
Coverdell Education Savings Accounts: Another versatile option for qualified education costs.
Custodial Accounts (UGMA/UTMA): Tools for transferring assets to minors.
Whole Life Insurance: Exploring how certain policies can play a role in long-term savings.

Let us help you build a robust college funding strategy, so you can confidently invest in your child’s brighter future.

Frequently asked questions

How much should I be saving for my child's college education?

The ideal amount depends on factors like the type of school your child might attend, when they’ll go, and your family’s overall financial situation. We’ll help you project future costs and set realistic savings goals tailored to your aspirations.

What's the best way to save for my child's education?

There are several excellent options, each with unique benefits. We’ll explain choices like 529 Savings Plans, Coverdell Education Savings Accounts, and custodial accounts (UGMA/UTMA), helping you choose the strategy that best fits your family’s needs and financial objectives.

Are there tax benefits to saving for college?

Yes, certain college savings vehicles, particularly 529 Plans, offer tax advantages, such as tax-deferred growth and tax-free withdrawals for qualified education expenses. We’ll help you understand these benefits and integrate them into your plan.

Can I still save for college if my child is already close to college age?

It’s never too late to start. While early saving is ideal, we can explore various strategies to help you mitigate costs, utilize available resources, and optimize contributions even in the later stages of your child’s high school years.

Ready to invest in your child's future?

Let’s get started