The Best Way To Save For College: Invest In Human Capital
What is the best way to save for my kid's college education?" is a question that comes up pretty frequently for someone in my field. Many advisers quickly answer this question with an explanation of the various college savings plans parents can invest in for their children's future. In fact, if you "Google" the title to this article, you will likely find hundreds of articles and blog entries about 529 plans, Minor Trust Accounts, etc. Many articles will try to tell you which education savings plan is best for you-as if they know you and your situation. Aside from the irresponsibility of making such blanket recommendations, doing so fails to consider many other factors that can affect your child's college and professional path and overall financial situation as an adult. Planning for college, in my mind, does NOT begin when you open up a college savings fund. College savings accounts can be great, and we'll talk about those later - but I believe coll...