Episode 254 - 4 Unique Ways To Fund Your Child's College Education
Beer & Money
English - June 17, 2024 12:00 - 19 minutes - 16.4 MB - ★★★★★ - 12 ratingsInvesting Business Management assets quantified beerandmoney debt finance finances financialplanning investments lifeinsurance money Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this conversation, Alex Collins discusses different strategies for funding a child's education. He explores the limitations of 529 plans and suggests alternative methods such as using real estate investments, cash value from life insurance policies, and Roth IRAs. The goal is to provide flexibility and options for funding education while also teaching children important life skills. It is important to work with professionals and consider various factors such as cash flow, liquidity, and taxes.
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Takeaways
529 plans are a common choice for education funding, but they have limitations and lack flexibility.
Using real estate investments can provide a multi-use dollar and teach children valuable life skills.
Cash value from permanent life insurance policies can be used to fund education.
Roth IRAs can also be used for higher education, but caution is needed and professional advice should be sought.
It is important to consider factors such as cash flow, liquidity, and taxes when planning for education funding.
Chapters
00:00 Introduction and Favorite Beer
01:29 Limitations of 529 Plans
04:44 Using Real Estate Investments
06:21 Utilizing Cash Value from Life Insurance Policies
09:43 Considering Roth IRAs for Higher Education
11:15 Factors to Consider in Education Funding
14:17 Importance of Flexibility and Professional Advice
15:51 Encouragement for Questions and Feedback
16:10 Closing Remarks