Where does the time go? It seems like just yesterday that they were learning to walk, and now my kids are graduating from college?!?

My socials are full of prom and graduation pictures, which means it’s time to talk about how you get money out of the 529 plan to which you’ve been diligently (or otherwise) contributing.

A client’s former advisor told her that she should save $800,000 per child for college. None of my initial reactions to that were appropriate for a client meeting, but how much should you save for college is an important question for a lot of families so let’s dig into that.

Where does the time go? It seems like just yesterday that they were learning to walk, and now my kids are graduating from college?!?

Should you find yourself in the fortunate situation of having more 529 dollars available than needed, there are several things you can spend those dollars on that you might not have thought of:

If you’re a financial advisor, it’s hard to go an hour without talking about I Bonds right now. It seems the word is getting out to the general public now too.

A recent survey showed that while almost two-thirds of parents were saving for college, only about one-third are saving in a 529 plan. That’s unfortunate, since 529s are usually the best choice for savings, for a lot of reasons. On the other hand, it’s not unexpected, given that the vast array of often confusing choices can be a barrier to use. So, how do you choose?

Where does the time go? It seems like just yesterday that they were learning to walk, and now my kids are graduating from college?!?

About 3/4 of families who appeal their financial aid award receive additional aid. Yet less than half appeal. Here’s how to get more money from the colleges you’re considering.

We’re almost there: acceptance letters are arriving and the May 1 decision day is right around the corner. For most families, how much schools cost is part of the decision making process.

Where does the time go? It seems like just yesterday that they were learning to walk, and now my kids are graduating from college?!?

Getting an estimate of your Expected Family Contribution is really helpful, and it's pretty easy. The Department of Education's unfortunately-named Student Aid Estimator will calculate the FAFSA's EFC for you with a few data inputs; the College Board offers one for the CSS Profile.