Put your child in position to build their own wealth.
One of the cornerstones for supporting your child is ensuring they can attend the higher education institute of their choosing. At Capstone Financial, we understand that funding your child's education requires commitment and careful planning. To help you prepare, we'll work closely with you to develop the plan that's right for your family. We will:
Analyze your family's education needs
Determine the best option for your situation
Recommend the proper funding strategies
Assist with appropriate investment selection
Monitor your investments
Hear what our Advisors have to say
Learn more about how our team of wealth managers approach Education Planning, and how we can help you to develop a plan that's right for your family.
WHAT IS FINANCIAL PLANNING FOR COLLEGE?
Every family's educational expenses are different, so an individualized planning approach is essential. Financial planning for college incorporates several different pieces. From preparation to research, Capstone's advisors help you get a realistic sense of what college might cost, so you can develop a realistic budget and savings strategy.
College costs are more complicated than simply paying tuition. As your child gets closer to attending, we begin incorporating information about the schools they might attend into your strategy. We’ll also take into consideration scholarship money your child may expect to earn. Our approach to education planning services is a dynamic process that adapts as you gain more insights about the type of student your child is and the types of colleges they’re interested in attending.
WHY ARE EDUCATION PLANNING SERVICES IMPORTANT?
College is a major expense, and starting your financial preparation early makes it much more manageable. There are several different tax-advantaged education savings vehicles available. Tax implications are inherent in our investment approach, including planning for your family’s education needs. Preparing for your child's future in a tax-efficient way, ensures your savings remain on track with your timeline and goals. Our team has experience with and insight into many funding vehicles, including:
529 plans
Coverdell Education Savings Accounts (ESAs)
Pre-paid tuition plans
Permanent life insurance
Our personalized approach evaluates these options based on your situation. We’ll choose the option or combination of options that best fits your plans and your overall financial situation.
WHO BENEFITS FROM EDUCATION PLANNING SERVICES?
Both you and your child benefit from good education financial planning. Trying to manage higher-than-anticipated college costs can disrupt your retirement savings or lead to you or your child taking out large student loans. Student debt can have a major negative impact on your child's financial future. Debt can limit your child's job opportunities and make building a savings fund more difficult. Proper education planning help you avoid this.
WHAT KIND OF RESULTS CAN YOU EXPECT FROM EDUCATION PLANNING?
Education planning services can help you afford schools you otherwise would not have been able to afford, opening up your child’s options. Being prepared for higher education costs reduces — or eliminates — student loans, which helps your child enter adulthood in a better financial position. In addition, having college savings available helps solidify the expectation that your child will attend college. If this is your goal, establishing dedicated savings makes this more likely to happen.
WHEN WILL YOU SEE THE RESULTS?
Education investments produce long-term gains. The younger your child is when you start investing, the more time they’ll have to grow. While you won't directly experience financial gains right away, you will benefit from the peace of mind that comes with preparing for the future.
CHILD FINANCIAL MENTORING
Education planning is a family endeavor, and as your Wealth Advisor, we’re here to not only to plan for your child’s education but also to mentor them. Inviting them into the process and forming our own relationships offers numerous benefits. Bringing your child into the financial planning process allows them to go into the college application and selection process with more information about what's accessible to them. Knowing up front how much you’re willing and able to contribute to their higher education eases some of their uncertainty around the decision.
This is also a good way to discuss any expectations you have for your child to financially contribute to their education. From work-study and part-time jobs while in school to taking out their own student loans, financial planning now is great opportunity to discuss budgeting and build good financial habits.
At Capstone, they'll receive financial insight, advice, and knowledge they'll then take with them throughout their life. As independent adults, they'll have the skills to better make informed decisions along the way.
Get Started With Smart Education Planning Strategies
Contact us right away in Downers Grove, IL, or from anywhere across the country to get started.
