The cost of a college education continues to rise, and along with it, student debt. Roger Michaud, senior vice president and director of college savings for the Franklin Templeton 529 College Savings Plan, and Mike O’Brien, director, Program Marketing, Global Client Marketing, look at how mounting student debt could have a long-term impact on one’s future.
A recap of the overall economy and stock and bond markets during the first quarter of the year. It also gives examples of historical data advisors and investors should consider when determining their investment strategies for the remainder of the year.
On December 2, Senate Republicans managed to obtain enough votes to pass sweeping US tax reform legislation, but with several changes compared with the original House of Representatives' bill. At more than 470 pages, the "Tax Cuts and Jobs Act" is certainly not a light read. But, it has some important implications for individuals and corporations, for better or worse in some cases.
After the 2016 presidential election, we knew that 2017 was going to mean a change in direction for the country. President Trump ran on a platform of tax and healthcare reform, which seemed to signal a new frontier for tax and financial-planning strategies. So a year later, where do we stand?
Can 529 funds be used for gap-year expenses? I recently had a parent ask me if their child’s 529 college savings account money could be used to help pay for gap-year expenses. Here’s the short answer: Maybe.
As the cost of a college education continues to rise, parents (and their children) are coming up with creative ways to finance it.
Research has shown that individual and household spending declines in real-dollar terms upon and following retirement. Yet most financial advisors still use traditional retirement planning approaches that target constant real-dollar spending for the client’s planning period.
Higher education costs are becoming part of many families’ financial conversations. With tuition rising faster than inflation it is important to understand the true cost of college and the consequences of over borrowing. Starting a savings plan early provides the benefits of long-term growth, and it is never too late to start. Knowing how to maximize growth in 529 plans makes saving for college attainable for any family.