Masonry Magazine March 2003 Page. 67
STONE WORKING TOOLS
RECESSED BIT CARBIDE TIP CHISELS
"THRU HARDENED" STONE HAMMERS
Need to change accordingly. The tax savings you had along the way won't matter much if it comes college-time and you can't pay the bill.
Make sure your Wealth-Manager is fee-only and receives no commissions. Commissions are garnered by "sales representatives" who place you into "529" plans or expensive load-funds. These expenses will kill your portfolio over the long-term. Your Wealth-Manager should be fee-based and thus not have his or her responsibilities end when your account is opened and the commission is paid. A fee-based Wealth-Manager is paid to constantly monitor your account, ensuring it is on-track. If fee-based, he or she will be keeping all your fees as low as possible to help ensure your portfolio's growth is maximized. There will also be no conflicts of interest when placing your capital into investments.
Stop worrying-your children can become anything they want to be. Working with your Wealth-Manager, you should be able to set up a concrete plan that will have you not worried about how to pay the college bills but smiling proudly as your child goes off for higher-learning. Your college-savings plan, if done right, can be set up to reasonably withstand all types of markets and to maximize growth while reducing risk of loss.
Of course, the earlier you start your plan, the easier it is to attain your goal-amount. Besides the lifelong social-bonds that are formed at college, the College Board estimates that, over the course of their careers, college graduates earn about $1 million more than high school graduates. Your Wealth-Manager can help ensure you can provide this gift for your family. How's that for a return on investment?
Carl Sanger, owner of Serenity Wealth Management, LLC in New York, is a Registered Investment Advisor and has been managing investment-capital for 10 years. He can be reached at (866) 958-4626, or by e-mail at carlsanger@carlsanger.com.
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