Does Your College Plan Need A Second Opinion?

Think back to your last major decision, whether it was a career move, a relocation, a medical treatment, or something else entirely. Did you make a quick choice without exploring your options, or did you conduct research and gather as much information as possible? Did you approach the decision-making process on your own, or did you look to trusted mentors, family, friends, or even the internet for help?

Your college plan is just as important as those other decisions. How you prepare, save, apply, and research for your child’s college education will have a significant impact on other aspects of your financial life, including your retirement. If you’ve already started on your college planning, I’d like to offer you a second opinion to make sure you are on the right track toward your goals.

Why Do I Need A Second Opinion?

According to Sallie Mae’s most recent “How America Saves For College” study, American parents are saving more for college than ever before, with 56% of parents who want their child to attend college already saving for post-secondary education, and 47% creating a plan. (1) But those good intentions alone won’t cut it. Parents might plan to take care of 66% of college costs for their kids, but most of them are only set up to cover 27% by the time they send their children off into the great big world. (2) While it’s wonderful that parents are saving and planning, most parents turn to friends or family for advice, and 26% of people who are saving for college haven’t used any information resources. Only 25% have turned to a financial advisor for help. (3) Getting a second opinion from a financial professional who specializes in college planning might help you save more than you thought possible and set your child up for future success. Here are three reasons to get a second opinion and let us guide you as you pursue your goals.

1. It Solidifies Your Strategy

If you’ve already done your research and gathered information and then a financial professional offers you advice and uses their experience to take you even further, it gives you confidence that your plan is appropriate for your goals.

2. It Eliminates Doubt

Maybe you’ve read articles about what steps to take or what products you should invest in. Unfortunately, much information available online is biased. Some people are looking for a commission or get perks from promoting certain strategies or savings vehicles. Even if something sounds good, how can you really know if it’s in your best interest? Getting the opinion of an independent, objective advisor can help eliminate doubt about your plan.

3. It Gives You New Ideas

Using the “two heads are better than one” approach, more information is always better than less, and another set of eyes can be invaluable. Even if you think your plan is set, getting a second opinion could fuel creativity and open your eyes to other options as well as help you avoid common college-planning pitfalls.

How Do I Know If My College Plan Is Right For Me?

College planning can be complicated and overwhelming. In order to make the best decisions possible and create a college plan that helps you feel confident, it is important to work with a qualified and experienced financial professional.

Here at College Planning America, we would love to sit down with you and find out how we can prepare your child for college and get your finances ready for this milestone. We not only look at the financial piece, but we also walk your child through school choice, college requirements, and the application process. Our comprehensive services help you and your child prepare for every aspect of college. If you want to benefit from our second opinion or if you know someone who needs our help with college planning, email me at dcoen@sageviewadvisory.com or call 800-814-8742.

About Dave

Dave Coen is a Financial Advisor with SageView Advisory and the CEO of College Planning America. Along with his retirement financial industry experience, he is a College Planning Specialist. He works closely with individuals and families to provide them comprehensive financial planning that addresses all elements of their financial picture. Learn more by connecting with Dave on LinkedIn.

1920 Main Street, Suite 800, Irvine, CA 92614 Tel: 800-814-8742

Registered Representative with and securities offered through Cetera Advisor Networks LLC (doing insurance business in CA as CFGAN insurance agency), Member FINRA/SIPC. Advisory services offered through SageView advisory group, LLC. Cetera is under separate ownership from any other named entity. CA insurance license #0G82578