Planning for Your Children’s Education

A well thought-out education plan will help you realize your financial objectives for your children’s education with the least amount of stress to your current income. As the cost of educating children continues to rise it becomes more important to begin planning early so that adequate funds are available when your child reaches the post-secondary level.

Saving strategies for a child’s education require special consideration because children are considered minors and cannot own property directly. There are several methods available which can help you achieve your educational objectives. Here are but four methods to consider:

►    Registered Education Savings Plans (RESP's

►    The "In Trust For" Account

►    Buying Universal Life Insurance

►    Financial Aid Strategies

With so much riding on a good education, and on your decisions, it’s important to get sound advice on all aspects of your education savings program from an independent financial planner. 

The information contained in this commentary is designed to provide you with general information only, and is not intended to be comprehensive advice applicable to the circumstances of any individual. We strongly urge you to seek professional assistance before acting upon information included herein.