Saving for college is one of the most important financial decisions you'll ever make. Building a plan is the
first essential step in reaching your goal.
According to The College Board, college tuition costs for the 2009-2010 school year are a little over $105,000
for four years at a private school and $28,000 at a public school. If that sounds like too much to handle, don't
panic.
Setting up a program of systematic long-term investing can be an effective way to accumulate the money you will
need to help put your children through college. The sooner you start, the more time you have to benefit from the
growth potential offered by an investment portfolio. Of course, a dollar cost averaging program doesn't ensure a
profit or protect against a loss.
A college education is one of the biggest expenses you'll face in your life. It's also one of the most important
decisions you'll make. It can pave the way for a more secure future for your children or grandchildren. You may
even decide to continue your own education as you move through your career.
The U.S. Census Bureau reports a significant disparity between the incomes of those who graduate from college
and those who do not.
|
Level of Education
|
Mean Annual Earnings
|
|
Grades 9-11
|
$25,100
|
|
High school graduate
|
$32,200
|
|
Some college no degree
|
$38,900
|
|
Associate degree
|
$41,200
|
|
Bachelor's degree.
|
$54,800
|
|
Master's degree or higher
|
$72,200
|
*Ages 35-44, includes full-time year round workers.
Source: U.S. Census Bureau, 2006.
Investment & Insurance Products:
•Not Insured by FDIC or any Federal Government Agency
•Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate•May Lose Value
People's Financial Advisors is a division of People's Securities, Inc. Investments & Insurance are available
through People's Securities, Inc. (member FINRA
and SIPC), a subsidiary of People's United Bank.
