Child's Education

Your kids are young now, but seemingly before your eyes, they'll graduate from staying overnight at a friend's house to going off to university. As the costs continue to climb each year, how will you help send your child to school without sacrificing your own quality of life?

Identify Needs
Whether you have 15 years, five, or even fewer years to plan for their education, there are many financial needs to consider. From knowing how much is enough based on educational cost projections, to understanding your options and the tax implications, to understanding what happens to the money you've saved if your child decides not to go to university. Whatever your situation, your financial adviser can help you sort it all out.

But before you do anything, don't worry. The right savings plan can help you achieve your goals to meet the costs of your child's education.

The Big Picture
Put things into perspective. Let's first figure out how much time we have to work with and then cover off on the basics. Generally, the longer the time you have, the lower the amount per month - and the longer you wait the higher the amount per month. There are also loans and grants available as well that can help supplement any savings plan you choose.

While taking care of immediate educational planning needs is important, it's also important that you don't lose sight of your own financial goals as well. Even if it's just a little bit, the more consistently you invest, the greater the opportunity for returns can be. In this case, pound cost averaging¹ might be a smart way to continue to plan for your future. It's a programme that enables you to invest the same amount each month. That way, when stock prices are high, you buy fewer shares and when they are low you purchase more. Regardless of your investment choice, it's always best to start as early as possible and stick with it until you have reached your goal.

Get Started
While your children are still young, it's important to keep your short- and long-term goals in mind. To learn more about how Edward Jones approaches your needs, click here. Then contact your local Edward Jones financial adviser, who will be happy to help you identify and prioritise your financial goals and track

^1. Pound Cost Averaging does not assure a profit and does not protect against loss in declining markets. Such a plan involves continuous investment regardless of fluctuating price levels. You should consider your financial ability to continue purchases in periods of low price levels.