ABOUT HOSTS

Joe Anderson
ABOUT Joseph

As President of Pure Financial Advisors, Joe Anderson has led the company to achieve over $2 billion in assets under management and has grown their client base to over 2,160 in just ten years of the firm opening. When Joe began working with Pure Financial in 2008, they had almost no clients, negative revenue and no [...]

Alan Clopine
ABOUT Alan

Alan Clopine is the CEO & CFO of Pure Financial Advisors. As CEO he currently leads Pure Financial Advisors along with our executive team. As CFO he is responsible for the financial operations of the company. Alan joined the firm about one year after it was established. At that time the company had less than [...]

Helping your adult children afford a college education is likely one of the biggest investments you’ll undertake. Too often families fail to put together a financial plan for college, so they are tempted to dip into their retirement funds and jeopardize their own financial security. The result: parents are taking on more debt than ever before so their kids can receive a college diploma. To help you avoid putting your financial security on hold, planning professionals Joe Anderson and Alan Clopine help you navigate the options and give you money-saving tips for funding for college.

 

Important Points:

(2:00) – Money-Saving Tips for Funding College

  1. Estimate Expenses
  2. Develop a Savings Plan
  3. Explore Investment Options
  4. Update Plan

(3:50) – Estimate Expenses: Calculate Needed Savings

  • College 2K Rule of Thumb
  • Research Current Expenses at Target School Type
  • For Every $10,000 You Pay X Child’s Age by $2,000

(6:50) – Develop a Savings Plan: Plan Ahead, Get Ahead

(9:50) – Investment Options: 529 Plan Pros & Cons

(13:10) – Investment Options: Coverdell Account Pros & Cons

(15:20) – Investment Options: Prepaid Tuition Pros & Cons

(17:50) – Update Plan: 4yr Public & Private Tuition

(19:20) – Ask The Experts

Make sure to subscribe to our channel for more helpful tips and the latest episodes of “Your Money, Your Wealth.”