Education planning is an important topic to evaluate at different stages of your children’s life. The cost of tuition has continued to increase and you must weigh the difference between public and private education expenses. There are a number of different accounts to begin savings for future education expenses including 529 plans, Coverdell Education Accounts, UTMA’s, UGMA’s, cash value life insurance or brokerage accounts. It is important to evaluate your current situation to determine which will give you the best tax advantages and investment performance to maximize your savings.
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