I’ve partnered with Fidelity & MEFA in support of the U.Fund 529. As always, all thoughts and opinions are my own.
There were various events around Boston this summer and fall, where you could get information on different options available to families. The U. Fund Dreams Tour is all about making college planning & savings knowledge accessible to parents in various stages of the planning process. We still have fairly young children, but so many years have passed, and I have always wished for more resources to rely on for information throughout this process. No matter how old your child is, or children are, saving for their educational financial futures is a big undertaking. Are you ready to find out more? I know I have been!
These 16 Boston-area events took place between May and October of 2016 and they were GOOD. The events all had a large “Dreams Tent” filled with engaging discovery activities for kids to have fun with and connect. There were discovery activities intended to help parents better understand the challenges of saving for college, and they were also there to be fun and interactive for the kids. There was the U.Fund Dreams Tour at Wachusett Mountain KidsFest on September 24th and 25th, and the U. Fund Dreams Tour @ Boo at the Zoo at the Stone Zoo on October 23rd. We had a lot of fun!
My kids are four and seven, and instead of thinking it’s too early to think about saving for college, in fact, I have been worried it’s too late. Luckily, there are plans, ideas and tips that can work for ALL of us – no matter our place in the game. I know my kids aren’t thinking about college yet, but I’m happy that we are thinking deeply about their futures.
Five Simple Ways To Think About College Savings (Yes, Already!):
1 – Don’t get discouraged. It’s easier said than done. College costs rise about six percent per year, and we do worry about what it will be like in 10-15 years or so. The good news is that there are plans, scholarships and benefits that can fit the bill.
2 – Involve your kids. They need to know the value of money early, whether it’s how to earn it, how hard it can be to earn it, and how valuable time and work can be. I think it’s great to make goals with them – like bake sales or lemonade stands.
4 – Look at data and choices. One thing that isn’t as fun, but is important, is to look at your financial data from the last three months. The point of this is to get a rough idea of your monthly expenses vs. income, so you can decipher how much to allocate to a monthly 529. Start investing in your children’s education early so that savings can compound. You can shift to more conservative investments as your children get older.
5 – Learn more about the MEFA U.Fund Massachusetts 529 plan managed by Fidelity Investments. This is a simple and smart way to save for your children’s colleges. The experts at MEFA and Fidelity can work with you to see which flexible investment choices are best for your budget and your needs. As little as $15 a month can grow over time to help pay for your children’s college expenses. The MEFA has been helping families save for college through 529 plans for over 30 years.
Their experts work with all families. You can head over to Fidelity.com/college for more information about saving for college. And head to the MEFA U.Fund page for more information about the Massachusetts 529 college savings plans. MEFA also offers a number of seminars in locations across Massachusetts to help you plan for college. Find one HERE.
MEFA’S U.Fund, the Massachusetts 529 college-investing plan, is a tax-advantaged college savings plan professionally managed by Fidelity. MEFA is a non-profit state authority that works to make higher education more accessible and affordable.