Apr 16, 2014

Planning for you Children’s Future with Rob Laney

Guest Post by Rob Laney

With how busy people are in today’s society it’s easy to forget the things that really matter, such as saving for your kid’s future.  One of the most important things you need to consider and not “put off until later” is saving for your children’s education.  Think about all the money that’s spent on your children from the time they are born, until they move onto college at age 18.  Toys, shoes, food, doctor visits, clothes, etc.  These are just a few of the things that we all spend countless dollars on in our children’s lives while growing up, but none of it constitutes as a long term investment.

Putting away a small amount for our children’s education might be one of the single most important things we can do for them.  I can’t stress enough the importance of starting early.  Whether that amount is $10 or $100 a month, every little bit helps to secure their financial stability down the road.

Kids, as we know, can only have so many toys.  These things add up!  A few dollars here, a few dollars there, before you know it, you have spent $50 on toys in a month.  That might benefit them now, but how much value will it really add to their future down the road?  Cutting back on one or two toys a month or one or two pieces of clothing and putting that money in an account that has the ability to grow is a huge first step to preparing for your child’s future.
What it comes down to is asking yourself these three questions below.
1)  In the next five, ten, or even fifteen years, will tuition prices continue to rise or decline?
2)  Inflation.  To make it simple, does a gallon of milk today cost you the same amount it did when you were a kid?  What does that say about the importance of saving for the future and what a dollar will actually be worth down the road?
3)  Do you like paying taxes?  My guess is you don’t.  Certain college Education Saving Plans do a great job of avoiding taxes whether your child decides to go to school or not.  Which one are you currently involved with?

Tax efficiency, working around your personal budget, and coming up with an overall plan that helps fit the needs of both you and your families future is what I specialize in.  Whether that is Life Insurance, Disability Income, Long Term Care, planning for your children’s future, my team and I come up with specific plans that help fit the needs of every individual I meet with and make sure they are on the path to a safe and sound financial future.

For more information on these topics, please feel free to contact me at the information listed below.

Rob J Laney III
Financial Representative

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