Your browser does not support JavaScript
 

Blog & News

College Planning for High Net Worth Families – College Selection
Posted By: 
Tuesday, January 3, 2017

By Rob Lemmons, CFP®, CPA, AIF®, CEPA

College planning is a complex process. It can be challenging, time-consuming, and extremely expensive. Understanding all of the strategies and determining which ones apply to your family’s situation can be quite confusing. The planning required for college and retirement is extensive and must be approached proactively with a long-term perspective using a multitude of financial management strategies.

In our Total Wealth Planning program for college planning, one of the five key components of our planning process is college selection.

According to the Department of Education, fewer than 40% of students who enter college each year graduate within four years, while almost 60% of students graduate in six years. At public schools, less than a third of students graduate on time. In addition according to a report by the National Association for College Admission Counseling, 1 in 3 students who enroll in either a 2 or 4 year college will probably transfer at some point. With the current cost of a college education continuing to escalate, the idea of 1 or 2 extra years of college expenses is quite daunting. This greatly increases the importance of choosing the right college from day one.

There are many factors that go into the college selection process:
  • Cost, campus life, academics, activities, enrollment size, and location are just a few
  • Consider those schools where the student profiles in the top 20% of the application pool
  • Choose 8 to 12 schools including an in state school and a fall back school
  • Determine the admissibility indicator for each school, the cost, the expected family contribution, and the estimate of both financial and merit aid
At Total Wealth Planning, college planning is about college selection, financial aid, tax planning and the personal resources available to pay for college. It is our understanding of tax laws, college admissions, financial planning, financial aid laws, and most importantly the best ways to incorporate it all into one strategy. Our ultimate goal is to reduce the stress and anxiety of funding education for students and parents to have a successful college experience.



 
 
Subscribe To Our Blog

Blog Categories

  • Business Owners
  • Charitable Planning
  • Client Experience
  • College Planning
    • 08/31/2017 - College or Retirement: How to
    • 01/31/2017 - College Planning for High Net
    • 01/03/2017 - College Planning for High Net
    • 11/18/2016 - College Planning for High Net
    • 11/02/2016 - How to Pay for College: Our Be
    • 06/08/2016 - College Planning for High Net
  • Estate Planning
  • Executive Compensation
  • Firm Updates
  • In the News
  • Investments & Market Updates
  • Net Worth
  • Retirement Planning
  • Security & Privacy
  • Taxes
 

INVESTMENT
MANAGEMENT

Your investment philosophy should be grounded in academic research and financial science. Our team will build you an investment portfolio that aims to give you the highest probability of achieving your goals with the least amount of risk.

Learn More
 

RETIREMENT AND
TAX PLANNING

Figuring out how to recreate your paycheck or developing a spending policy should not be an overwhelming exercise. Our team has the expertise to help with retirement portfolio, tax strategies, distribution planning, social security maximization strategies and more.

Learn More
 

HOLISTIC/COMPREHENSIVE
PLANNING

We’ll have discovery conversations, gather and organize your data, then craft comprehensive plans to achieve your life and financial goals. As our ongoing commitment, we consistently monitor and tweak your plan to ensure you’re on track and surprises are minimized.

Learn More

WE'VE BEEN LISTENING
FOR OVER 25 YEARS

Life brings many transitions. Find the right advisor to fit your needs on a fee-only basis, and take the first step in the journey. Total Wealth Planning's team of Certified Financial Planners® guides Cincinnati families and associates through transition.


Total Wealth Planning Associations
WE ARE PROUDLY ASSOCIATED WITH

CONTACT INFO


 

WHAT'S NEW AT TWP


       
CORPORATE EXECUTIVES

WEALTH-BUILDING FAMILIES

RETIREES

BUSINESS OWNERS
ECONOMIC OUTLOOK

BLOG & NEWS

VIDEO LIBRARY

   
4665 Cornell Rd. Suite 160, Cincinnati, OH 45241 4665 Cornell Rd. Suite 160, Cincinnati, OH 45241
513-984-6696 513-984-6696
info@twpteam.com info@twpteam.com
Total Wealth Planning named finalist in Cincinnati Business Courier's 2-10 Best Places to work!
Monday, September 16, 2019


SEE MORE >

Follow us on Google+
Blog & News
Follow us on Twitter
Find us on Facebook
DISCLOSURES | COPYRIGHT © 2019. TOTAL WEALTH PLANNING. ALL RIGHTS RESERVED.
GET STARTED
READY TO
GET STARTED?