Did you have a baby this year? We did! Check out these staggering numbers:
A child born in 2013 that begins kindergarten in the fall of 2018 would attend college between the years of 2031 and 2035. If that child attended an average private 4-year college and if the annual price increases for private colleges experienced over the last 30 years (+5.7% per year) continued into the future, the aggregate 4-year cost of the child’s college education (including tuition, fees, room & board) would total $483,238 or $120,810 per year (source: College Board).
Have you started saving yet for your children’s college tuition? It would be great to hear what everyone is doing. If you’re not doing something, but wish you were– give me a call: 913.402.6099.
Do you have an investment strategy that seeks to protect your portfolio against volatile economic conditions? Call me to schedule a free review of your current investment portfolio – 913.402.6099.
John P. Chladek, MBA, CFP® is the President of Chladek Wealth Management, LLC, a fee-only financial planning and investment management firm located in Leawood, KS, a suburb of Kansas City near Overland Park. For more information, visit https://www.chladekwealth.com.