Episode 237: Getting Ready to Pay for College with Lucy Valandra, CFP® & Alexa Kane, CFP®, CDFA®, AIF®

Women's Money Wisdom

Ever wondered how to secure a bright educational future for your children without compromising your own financial well-being?

Join Melissa Joy, CFP®, CDFA®, and her insightful colleagues Lucy Valandra, CFP®, and Alexa Kane, CFP®, CDFA®, AIF®, as they share personal stories and helpful tips to make the college savings process smoother.

Lucy starts off with her heartwarming journey as a new mother to twin boys and the proactive steps she's taking toward their education savings. Meanwhile, Alexa, balancing life with two boys and a baby girl on the way, breaks down the many benefits of 529 plans—from tax advantages to their flexibility. Together, they discuss how dedicated college savings can provide both financial security and peace of mind.

We'll also explore the broad possibilities of educational funds beyond traditional four-year colleges, touching on trade schools, community colleges, and even off-campus housing.

Alexa dives deep into the critical balance between saving for college and securing your own retirement, emphasizing the importance of early and adaptable savings strategies. You’ll learn about lesser-known benefits of 529 plans, such as paying off siblings' student loans and redirecting leftover funds wisely.

This episode is packed with practical advice and personal anecdotes to empower you with the knowledge to make informed decisions about your children’s educational futures and your financial health.

Listen and Learn:

• 529 plans offer tax advantages and flexibility for saving for college
• It is possible to repatriate funds from 529 accounts for other purposes, such as retirement savings or paying off student loans
• How to find a balance between saving for college and retirement is important

Resources:

• Connect with Alexa on LinkedIn
• Connect with Lucy on LinkedIn
• Listen to the College Savings Webinar here

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

Κεφάλαια

1. Episode 237: Getting Ready to Pay for College with Lucy Valandra, CFP® & Alexa Kane, CFP®, CDFA®, AIF® (00:00:00)

2. College Savings Strategies for Women (00:00:01)

3. College Funding and Financial Planning (00:10:53)

4. 529 Savings Strategies and College Funding (00:26:05)