You've worked long and hard for years, saving diligently through your employer-sponsored retirement savings plan. Now, with retirement on the horizon, it's time to begin thinking about how to tap your plan assets for income. But hold on, not so fast. You may need to take a few steps first.
If you’re researching the best ways to save for college, you may be trying to determine what a 529 Education Savings Plan is and how it can be used toward your savings goals.
David Frederick, Director of Client Success and Advice at First Bank, discusses some of the best ways to save for college education in this month’s Wealth Management video.
How College Students and Graduates Can Budget and Manage Money with First Bank.
College education is expensive and will likely get more so as time goes on. The average tuition for the 2019-2020 school year ranged from $40,000 (for private colleges) to $11,000 (for state colleges), and has only gone up since then.