Education costs are rising quickly. Instruments such as 529s, Coverdell accounts, Roth IRAs, and pre-paid education plans are alternate ways to build resources that will pay for your children’s college and private K-12 education.
Depending on your education goals, Financial Innovations, LLC runs calculations on what your costs will be and how much you need to save. We then recommend the most appropriate investment vehicle for educational purposes. Remember, you can take out a loan for college, but you cannot take one out for your own financial independence. That is why it is important to retain a balance in savings.