Planning and Saving for Your Child's Education | Ep. 231

Planning for your child's future can feel like trying to make financial decisions about a life that hasn't happened yet. 

Will they go to college? Choose a trade? Stay close to home? Go out of state? What will it cost? How much should you pay? And how do you save for their future while still paying down debt, preparing for retirement, and taking care of everything your family needs today?

Those unanswered questions can make it tempting to wait until you have a clearer plan.

Mary Ann and Bereket Kelile explore a different approach: start with what you value, think about the future you're trying to support, and then let the numbers help you determine what's actually possible. That may mean funding part of an education rather than all of it, balancing college savings with retirement, considering different educational paths, or creating enough flexibility that the money can still serve your child when their plans inevitably change.

They also discuss 529 plans, brokerage accounts, scholarships, Roth IRAs, planning for multiple children, and why parents don't have to carry 100% of the cost themselves. But underneath all of those choices is a much simpler principle: you don't need every answer before you begin.

A small amount saved consistently today gives you something that waiting for the perfect plan never will—time.

Audio Show Notes / Resources

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Bereket Kelile

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Music Credits

This episode features music by Summer School.