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Education Planning

Education planning for undergraduate, graduate and professionals.

529 College Savings Plans

Education Planning in Fresno, CA - Can You Afford College, Law School or Medical School? Is it worth the cost?

With the US student loan debt at an all time national high and with interest rates going up college may seem like a big what if for many Americans. As financial advisors in Fresno, CA our first priority is helping you take care of yourself and your educational goals. We want to learn more about your personal situation, identify your dreams and undergraduate or graduate goals. College planning involves many facets including potential student loans, grants, private pay and the potential use of various funding techniques. Working with a financial advisor can help you evaluate all of your available options. 无论你是刚刚为孩子开设储蓄账户的年轻父母,还是帮助孙辈为未来教育储蓄的祖父母,或者你是一个年轻的成年人,为自己的教育自筹资金, our Fresno, CA financial advisors will help you assess your options and design a strategy for your educational needs. 

Education Planning Services

The financial advisors at Kerr Wealth Management can help you: 

  • Determine if you are eligible for financial aid.

  • Determine your approximate financial aid award.

  • Determine if the future cost of loan pay back is worth taking financial aid.

  • Understand various funding options available for college tuition. Prepaid plans, 529 college plans, 401(k) or IRA, life insurance, coverdell and gifting strategies.

  • Determine an optimal tax strategy and funding account.

  • Determine future costs of your desired college or professional program. (medical school, law school or trade school.)

  • The potential good and bad of gifting strategies.

What is a 529 College Savings Plan?


Can You Use a 401(k) or IRA for College Funding?

Yes. College tuition and related educational expenses can be paid for with an IRA or 401(K). It is important to note that when you are considering using funds from a 401(K), you should always refer to your plan document to verify if there is a loan provision. 如果你在退休前有足够的时间,并且你认为你可以在5年内偿还你的401(K),那么使用401(K)是一种谨慎的退休基金使用方式. The cool thing about using your 401(K) - the loan comes from you, not a bank. IRA也是一个很有价值的教育资金工具,因为你在使用你的钱,虽然你不支付利息,但你可能仍然需要为你的提款支付所得税. How about your ROTH IRA? Sure. If after 5 years of having your ROTH IRA you could consider using your ROTH IRA for a tax free distribution.

Can You Use Life Insurance for College Tuition?

Yes. 事实上,人寿保险是一个可行的选择,因为在财务援助评估期间,保单中的现金价值可能不会计入你的可评估资产. In our opinion, life insurance policies are not the cheapest or may not be the best investment option however, for the purposes of Financial Aid it is one asset class worth considering. With various gifting techniques a life insurance policy could be a suitable weapon in your college planning arsenal. 

*we are not tax professionals and you should consider consulting with a CPA or tax expert regarding the tax impact IRA withdrawals may have. jdb电子夺宝对529计划的投资组合进行评估和设计,按小时或固定收费,开设529计划账户不收取资产管理费.

Fund charges and trading charges may apply.

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