The greatest gift you can give your children is your own financial security. Take care of your own retirement planning, life insurance needs and debt reduction before contributing to your child’s college savings plan. If you have the excess funds to contribute at that point, 529 College Saving Plans are a tax-efficient, flexible tool in helping to prepare for the cost of your child or grandchild’s education.
In sum, when considering a Financial Advisor: BUYER BEWARE! I have worked side by side with some of the most successful Financial Advisors in the Industry, and I can assure you that not all of them (in fact not even most of them) have their client’s best interest in mind when making recommendations. Financial Advisors are generally paid through some form of commission, either a straight commission on a particular trade. Remember, the financial services industry is an “eat what you kill” environment. Read more to get the facts!