Build a Smart Plan for Your Child’s Future

Planning for college doesn’t have to feel overwhelming. With the right approach, you can earn money efficiently, reduce future debt, and give your child more options when it’s time for higher education. Below is a simple look at today’s most effective ways to save, so you can choose what fits your family best.

529 College Savings Plans

A 529 plan is one of the most popular tools for education funding.
What makes it so effective:

• Your money grows tax-free
• Withdrawals for qualified education expenses are tax-free
• High contribution limits
• Transferable to another child if plans change

It’s a flexible, straightforward choice for long-term saving.

Coverdell Education Savings Accounts (ESA)

Coverdell ESAs give you more control over investment choices while still offering tax-free growth.
They can be used for both K–12 and college expenses and are ideal for parents who like managing where their money goes.

Custodial Accounts (UTMA/UGMA)

These accounts allow you to save and invest under your child’s name.
They’re simple to set up and can be used for any future need—not just school.
Keep in mind: custodial accounts may impact financial aid since the assets legally belong to the child.

Roth IRA for Education

A Roth IRA isn’t just a retirement tool.
Parents can withdraw contributions tax-free at any time, and earnings can be used for qualified education expenses without the usual penalty.
It’s a flexible backup strategy that supports both education and your own retirement goals.

Cash Value Life Insurance for College Planning

Many families overlook this option, but it can be a powerful long-term strategy.

Why people choose it:

• Tax-free growth
• Tax-free withdrawals using policy loans
• Doesn’t count against FAFSA
• No restrictions on how the money is used
• Provides life insurance protection while building savings

This approach works especially well for families looking for stability and flexibility in one plan.

Prepaid Tuition Plans

Some states let you lock in today’s tuition prices for future college attendance.
If you expect your child to attend an in-state public university, this can protect you from rising tuition costs and make planning more predictable.

How Much Should You Save?

There’s no one-size-fits-all number, but a few simple habits go a long way:

• Start early
• Save automatically each month
• Adjust your plan as your income and goals change

Even small, consistent steps can grow into meaningful support by the time your child goes to college.

How We Help

We make the planning process simple by helping you:

• Compare savings options
• Build a custom strategy based on timelines and goals
• Understand tax advantages
• Use life insurance strategies for added flexibility
• Balance education savings with retirement planning

You get a clear path forward and confidence that your child’s future is protected.