This past weekend our family celebrated a major milestone as my son and first-born child graduated from high school. As I sat in Savage Arena on the campus of the University of Toledo listening to the ceremony, I reflected on a childhood that at times seemed to creep by, but at the same time, passed before my eyes so quickly. I am so proud of all the many accomplishments my son has achieved, but at the same time my heart is aching knowing that he is on the verge of spreading his wings and leaving the nest. Jackson worked hard during his senior year to make his dream of becoming a Falcon (like his dad) come true. In the fall, Jackson will be attending the Bowling Green State University to study education.
Parenting as you may know, can be one of the biggest joys and biggest challenges in life. To further complicate things, parents often cut their parenting teeth on the oldest child by making lots of mistakes, only to perfect their craft on later generations. As a parent, I certainly did make some mistakes, but one thing we did right was start saving early for his college educational expenses. Setting up a 529 college savings plan was one of the best decisions we made, as it was a great way for us as parents to save for college expenses, but also for grandparents and other family members to help save as well. Contributing to a 529 plan also allowed us to receive a state tax deduction in most cases. Most importantly, a college savings program allowed our son the ability to dream big, and not worry so much about the financial considerations involved with going to college. Sometimes just a little bit of forethought, planning and risk can pay off in a big way, especially if it feels right.
In conclusion, my wish for your graduating high school student this year is that all their wishes may come true, and that they continue to dream big! For help making sure that your loved ones can continue to dream big and never have to carry a load that is more than they can hold, give the advisors at America’s Retirement Headquarters a call for a complimentary college planning consultation!