Gifts for pre-teens, teens and young adults. If your holiday shopping includes finding gifts for pre-teens, teens and young adults, your selection may receive a lukewarm response. Most of us have difficulty choosing gifts for this age group, and we resort to including the gift receipt so the item can be exchanged.
Rethink what you’re giving your children or grandchildren. With the nation still focused on frugality, 2012 may be the perfect year to rethink what you’re giving your children or grandchildren for birthdays, holidays and graduations. Rather than agonize over a present that meets their approval, opt for the gift of education with a contribution to their college fund.
Grandparents surveyed intend to contribute financially to their grandchildren’s education. The latest Hartford Financial Services Group study found 65 percent of grandparents surveyed intend to contribute financially to their grandchildren’s education. Yet less than a third have discussed a plan with their children. Rules for certain types of college funding vehicles, such as 529 plans and Coverdell Savings Plans, require family members to coordinate their contributions to stay within plan limits.
College costs have been increasing for many years, often at a rate higher than inflation. The College Board said the average cost for one year at an in-state public college is $17,131 for the 2011-2012 school year (including tuition, fees, room and board). The total one-year cost has increased 6.1 percent per year over the past 30 years. If that same rate of inflation continues, then a first grader today will pay $153,000 for his or her four years of education at an in-state public college during the years 2023-2027.
If you already have a plan in place for your child or grandchild’s college education, then consider contributions to savings accounts for extra educational incentives such as funding for study abroad opportunities, postgraduate education or an all-inclusive vacation reward after they receive their college degree.
Call our office to discuss ways you can start a 2012 plan to help your child or grandchild save for college. We are happy to include multiple family generations in those discussions. And sure, your teenager may be less than enthusiastic about a contribution to a college fund for the holidays – but chances are he may not like his other gifts either! Call your personal financial advisor, Jordan Dechtman, at 303-741-9772, email him at Jordan@JordanDechtman.com or visit our website at www.JordanDechtman.com to schedule an appointment.
Income distribution planning is one of the most important areas for proper retirement planning. The ability to provide dependable and predictable income distribution will be necessary to enjoy a comfortable retirement. The Income for Life Model™ is a proven retirement solution which focuses on providing lifetime, inflation-adjusted income.
Give the Gift of Education – Week of December 19, 2011
by Jordan Dechtman
Gifts for pre-teens, teens and young adults. If your holiday shopping includes finding gifts for pre-teens, teens and young adults, your selection may receive a lukewarm response. Most of us have difficulty choosing gifts for this age group, and we resort to including the gift receipt so the item can be exchanged.
Rethink what you’re giving your children or grandchildren. With the nation still focused on frugality, 2012 may be the perfect year to rethink what you’re giving your children or grandchildren for birthdays, holidays and graduations. Rather than agonize over a present that meets their approval, opt for the gift of education with a contribution to their college fund.
Grandparents surveyed intend to contribute financially to their grandchildren’s education. The latest Hartford Financial Services Group study found 65 percent of grandparents surveyed intend to contribute financially to their grandchildren’s education. Yet less than a third have discussed a plan with their children. Rules for certain types of college funding vehicles, such as 529 plans and Coverdell Savings Plans, require family members to coordinate their contributions to stay within plan limits.
College costs have been increasing for many years, often at a rate higher than inflation. The College Board said the average cost for one year at an in-state public college is $17,131 for the 2011-2012 school year (including tuition, fees, room and board). The total one-year cost has increased 6.1 percent per year over the past 30 years. If that same rate of inflation continues, then a first grader today will pay $153,000 for his or her four years of education at an in-state public college during the years 2023-2027.
If you already have a plan in place for your child or grandchild’s college education, then consider contributions to savings accounts for extra educational incentives such as funding for study abroad opportunities, postgraduate education or an all-inclusive vacation reward after they receive their college degree.
Call our office to discuss ways you can start a 2012 plan to help your child or grandchild save for college. We are happy to include multiple family generations in those discussions. And sure, your teenager may be less than enthusiastic about a contribution to a college fund for the holidays – but chances are he may not like his other gifts either! Call your personal financial advisor, Jordan Dechtman, at 303-741-9772, email him at Jordan@JordanDechtman.com or visit our website at www.JordanDechtman.com to schedule an appointment.