It’s college application time, and Mark Fried is here to provide parents with some advice on how to manage the extra financial strain and get the most value out of college for their kids. His first tip? Don’t stop saving for retirement. And on top of that, avoid using your retirement money to pay for their education. You still need to set yourself up for financial success later in life. Plus, Mark says, there are ways to get your kids a quality education without breaking the bank. Mark suggests every parent have a conversation with their college-bound child about their educational desires, with the goal of finding a happy medium between quality and cost.
One way to not drain the bank account on tuition payments is to start your kids at community college and have them transfer into a 4-year university at a later point. Mark also says it’s important to ensure your kids are working hard so they don’t leave scholarship money on the table.
Mark Fried is loaded with great advise on a range of financial topics. Take a look at his thoughts regarding other viewer questions by clicking here!
Mark Fried is the president of TFG Wealth Management in Newtown, PA. He is a Certified Investment Advisor and Financial Planning Expert whose experience ranges from being an advisor to the Rosenwald Family of the Sears Fortunate to being the former president and owner of STone Bridge Bank & Stone Bridge Mutual Funds. Mark Founded TFG Wealth Management in 2005 to help families make good decisions about their financial future through education, planning and investment management. To get in touch with Mark, check out his website at tfgwealth.com