The Massive Opportunity Cost of Paying for College
And What it Will do to Your Retirement
If you are planning on sending your kids to traditional college, there is really no way around the cost. It’s going to be a massive expense. Most people, however, don’t really understand how much that cost actually affects their future potential retirement savings.
A 529 savings plan has the same flaws as a other qualified plans like the 401K/IRA. The use of those funds is limited to certain approved expenses and your money is locked-away until it is spent on those approved college expenses.
Additionally, what if your child gets a full-ride scholarship? Or decides not to go to college at all? If the money you saved is not used for college, it will then be subject to taxes and penalties.
What if there was a way to put money away for college without giving up control of that money and, at the same time, reduce or eliminate the effects of opportunity cost to your retirement? Watch the video below to find out more:
(Video Source: Truth Concepts)
Our mission is to help your family and/or business realize its full financial potential. We help identify areas where money is getting away from you in the form of opportunity costs (taxes, fees, inaccessible cash) and bring that money back under your control.