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3 Worthwhile Investments For Your Children’s Education

For any parent, their child getting the best education possible is a top priority. Hopefully, they can then go out and land decent paying jobs and blossom in their own independence. This is a financially draining goal that needs proper planning and laser-like execution.

According to Finaid, the price of tuition is likely to go up four times by the time children born today get enrolled in school. With this steady increase in education costs looming over everyone’s head, we’ve put together a list of investment options available to you as a safeguard for your child’s education.

Have You Thought About Mutual Funds?

If you want to beat the current inflation rates then mutual funds are a smart investment option. Based on your risk tolerance, financial muscle, and education goals for your child you can invest in mutual funds through the systematic investment plan (SIP) or as a lump sum amount.

A financial advisor is best suited to advice you on how and where to invest your money in mutual funds. As a rule of thumb, always ensure that:

  • You have a diversified portfolio that trades in bonds, stocks, real-estate and the forex market
  • You cover the risk by insuring whoever is paying for the investment

Wealthapp is a financial advisory app that you can also use to get valuable tips before committing your hard-earned money to any mutual fund.

Enroll Them in a Good School

Early childhood development is a critical stage when your child reaches school going age. They need an encouraging environment where they can learn and are allowed to express themselves as individuals. Traditional teaching methods are a far cry from this. Alternatively, you can invest in the Montessori teaching method which is a proven teaching technique, offered by schools like Miniapple International Montessori School, that helps your child to learn on a personal level.

Some of the highlights of a good Montessori school include:

  • They focus on key development stages in your child’s learning curve
  • Learning is child-centered
  • Their learning methods inspire creativity
  • Your child gets exposed to cultural diversity
  • Learning about peaceful conflict resolution

A school that provides all or most of these highlights will be excellent for your child and make a big difference in their level of education.

529 College Plans

Also known as qualified tuition programs (QTP). Investing in such a plan involves putting away money into a fund where you can then withdraw the money together with any capital gains. 529 college savings plan are exempted from tax and one can use the money for verified education expenses such as tuition payment and books.

Each state has a different plan that varies in terms of contribution limits, operating costs, and annual fees. Visit your nearest Government agency to get a clear picture of the requirements in your state.

Whichever option you settle on to invest in your child’s education it’s advisable to start sooner rather than later. As a budding investor in your child’s education, time is your only ally.

Tim Esterdahl

Tim Esterdahl is the editor of IFCS blog. He is a married father of three and enjoys golf in his spare time.

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