When saving for college, some folks get creative. If you’re already saving in a retirement account, why not simply use some of that retirement savings to pay for college? After all, these are tax advantaged accounts and – even though they aren’t designed for education – there are education exceptions on the penalties. Retirement accounts […]
About Patrick Berry
This author has yet to write their bio.Meanwhile lets just say that we are proud Patrick Berry contributed a whooping 4 entries.
Entries by Patrick Berry
Are you considering using a trust to save for your child’s education? In part four of our 5-part series on the best ways to save for college, we’ll walk through two simplified trusts that are commonly used for education: UGMA/UTMA and Crummey Trusts. Today, we’ll show you that while UGMA/UTMA and Crummey Trusts do offer […]
When saving for your child’s education, you want to make sure you are taking the appropriate amount of risk and getting the corresponding reward. In Part 3 of CollegeBacker’s series on the best way to save for college, we compare some of the safest, but low-yielding tools some parents use to save for college: Certificates […]
Trying to figure out the best way to save? There are many factors to consider, such as the tax treatment of the invested funds, how the funds are considered for Federal Student Aid, and who retains control of how that money is spent. But don’t worry! In part 2 of this 5-part series, we will […]