Summary:
In this episode, Anthony interviews Mark Willis. Mark is a Certified Financial Planner, a bestselling author, the host of the award-winning podcast, Not Your Average Financial Podcast, and the owner of Lake Growth Financial Services. He specializes in late-stage college savings planning and today he shares how to pay for college without going broke.
Covered Topics:
- What is a 529
- The tax break areas of 529
- Where you can spend 529 funds
- FAFSA (Free Application for Federal Student Aid)
- The complementary and supplementary mechanics for saving for college
Takeaways:
- Without 529’s, the student’s option for college is through student loans.
- Funds sometimes underperform the market so it’s best to always check performance.
- Your options should not be either/or but both/and — maximize every dollar you can.
Link and Resources:
- SavingForCollege.com – A website that gives calculations for tuition fees and possible 529 outcomes
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