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Retirement & College Funding

Financial Planning

A beginner-friendly overview of common strategies and what to consider before choosing a plan.

Educational content only — not tax, legal, or financial advice. For guidance tailored to your situation, please contact us.

Retirement: start with the basics

  • Contribute enough to capture any employer match.
  • Increase contributions gradually (e.g., +1% per year).
  • Diversify (don’t rely on a single stock or sector).

Common account types (high level)

  • Employer plans (e.g., 401(k))
  • IRAs (traditional vs Roth — eligibility and rules apply)
  • Self-employed options (SEP, SIMPLE, solo 401(k) — depending on your situation)

College funding: planning principles

  • Balance retirement and college goals (retirement usually comes first).
  • Understand financial aid formulas and timing.
  • Automate contributions to stay consistent.

Education savings options (examples)

  • 529 plans (state rules and benefits vary)
  • Custodial accounts (UGMA/UTMA — impact on aid and control at age of majority)
  • Roth IRA contributions (some flexibility, but rules are complex)

Want help applying this to your situation?

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