Money Assistant: Ep. 7 "How can I invest for my kid’s college tuition?"
Money Assistant: Ep. 7 "How can I invest for my kid’s college tuition?"
Episode 7 of Money Assistant, the new podcast from Magnifi and Money News Network, is LIVE.
This week, Money Assistant has the pleasure of hosting Anna who recently became a mother and is now looking for solutions to the newly arising issue of how they are going to start saving for her new child's education.
From Anna:
"Hi. My name is Anna and I just became a mom, nine months ago. I make $70,000 a year and my husband makes $85,000 a year. My money goal is to start saving for our daughter's college fund. I've heard a lot about 529 plans, but I'm not sure exactly how they work or whether we should get one..."
Unfortunately, Anna is like many out there. She has been made to believe that investing in the stock market is too risky and is best to be avoided. However, this couldn't be further from the truth.
When done correctly and strategically, investing can be used to open doors you otherwise thought were closed to you and your family. Saving for college is just another worry investing can help us take care of.
Join Anna and Money Assistant host, Nicole Lapin, as they begin to explore some of Anna's optionality when it comes to investing as a means to put her new child through college when the time comes.
As many parents realize, the college days creep up on you faster than you expect, best to have a plan in place as early as possible.
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Money Assistant is paid for by Magnifi LLC. Nicole Lapin is a client of Magnifi LLC so this should be considered an endorsement or testimonial. Magnifi LLC is a client of Money News Network, LLC and so the host has an incentive to promote its client. The testimonials provided may not represent the experience of other clients and are not a guarantee of future performance or success.
Opinions expressed on this program do not necessarily reflect those of Magnifi LLC. The topics discussed, and opinions given are not intended to address the specific needs of any listener. Magnifi LLC does not offer legal or tax advice, listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance.