Helping the Grandkids with College Costs
As a grandparent, it is likely that you take great pride in the success of your grandchildren. While a college degree can play a large part in that success, the cost of college has continued to increase and can be prohibitive for many. It is becoming more common in recent times for family members to help defray the cost of attendance. While not everyone is in a position to help, if you are, there are some considerations to be mindful of before proceeding.
Planning to help
Before proceeding with helping a grandchild with education costs, you should ensure that you can afford to give such assistance. It is not wise to use assets that you will need in retirement for your own support and wellbeing. Here, your financial advisor can be particularly helpful with projections and investment strategies that will help you meet your goals.
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by: Gina M. Barry