College Planning

MICON's Planning Services

If we live, it may be possible to pay for college or vocational expenses either out of current income or by borrowing. However, if we die, the money will have to come from somewhere else. In view of this, families set up a fund to help provide the money in the event of a wage earner’s death. The goal of College planning is to have most, if not all, of these educational expenses paid for before the student begins school. In other words, little or no payments will be necessary once school starts.

MICON’s Personal Financial Profile is your first step to college planning. It will help us gather, organize, and analyze pertinent information about how you feel educational expenses will be paid. Next, we consider college costs, possible scholarship funds, possible college loans, and educational savings programs, which are in keeping with your thoughts. If you want to consider Section 529 Plans, we can refer you to an investment advisor if you don’t have one. (The Power of Team). If you start early enough, compound interest can really help, because the earlier you begin your planning, the less investment you need to meet your college needs.