Episode #102

20/20 Money Episode # 102 – 5 Ideas for Funding College Education for Your Kids

October 19, 2020

As an optometrist, saving for college for your child or children can be a sensitive subject. Depending on how or if you had to pay for your own education can influence your mindset and how high on the priority list college savings is for you and your family.

If you decide that you want to save funds for higher education, there are a number of vehicles to consider with vary tax advantages. In this episode we look at 529 plans, Roth IRAs, utilizing a Family Management Company (FMC), how you can cash flow part of the cost when your kids get to college, and how life insurance could be used to fund college (though I admit it’s not one that I recommend).

If you’re interested in having your question and your voice featured on the upcoming AMA 20/20 Money podcast episode, you can submit it here. You can either include your name or submit anonymously. Please keep your questions short and to the point. Sometimes writing it down beforehand can help.

As a reminder, you can get all the information discussed in today’s conversation or check out any number of additional free resources like our eBooks and on-demand webinars by visiting our website at integratedpwm.com and clicking on the Learning Center. You can also visit this page to set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions.

Links

What is a 529 Plan

Episode Transcript

No transcript available yet.

Enjoy our content? Subscribe for regular updates!

Related Podcasts

  • Practice Management
20/20 Money Episode #281 -Hiring an associate full time vs easing into it: the discussion, numbers, and mindset for optometry practice owners with Nathan Hayes

Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes from IDOC.  Nathan joins me…

  • Practice Management
20/20 Money Episode #280 – A pay structure that works for optometry partnerships with Kurt Steele

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Kurt Steele, OD. Kurt joins me…

  • Practice Management
20/20 Money Episode #279 – How a hyper-effective, right-fit team can increase your profitability: a follow up convo with Dr. Mike Neal, OD

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mike Neal, OD. Mike is the…

  • Practice Management
20/20 Money Episode #278 -Reconciling a successful succession plan with a growing practice with Dr. Kurt Steele, OD

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Kurt Steele, OD. Kurt is one…

  • Practice Management
20/20 Money Episode #277 – Using a cash balance plan strategies when you sell your practice with Charlie Steingas of Cash Balance Actuaries, Inc.

Welcome to this episode of 20/20 Money! My guest on today’s show is Charlie Steingas, founder and chief actuary at…