Education Planning in Denver

Preparing the Next Generation for the Future

Empowering Futures: Education Financial Planning in Denver with Brown and Company

The most valuable gift you can bestow upon your children or grandchildren is an education that paves the way for a fulfilling lifetime. At Brown and Company, we recognize the profound impact of this gift, understanding that our clients aspire to provide the best possible education for their heirs. We stand ready to assist, armed with the knowledge and expertise needed to help you establish educational savings plans for the next generation.

Meeting the Challenge of Rising Costs

The landscape of education costs is rapidly changing, with even public colleges witnessing significant increases in costs. Whether your vision includes a private or public university degree for your children or grandchildren, anticipating future costs is paramount. Brown and Company is here to guide you through this process, emphasizing that the earlier you begin to save, the better equipped you’ll be to meet the expenses of higher education.

Questions to Ask Yourself About Education Planning

Why is financial planning for education important for my family's future?

Working with a financial professional to start long-term planning for higher education is critical if you want to give your children the best chance at getting into the best schools for achieving their goals. The cost of higher education can be a significant obstacle to meeting your personal finance objectives and securing your children’s future. With the help of a wealth advisor, you can develop a structured plan that will balance your family’s educational aspirations with your overall financial health. 

How much should I save for my children's education?

How college affects your personal financial planning will depend a great deal on the choices you and your family make. These include whether your child will be attending a public or private institution, the amount of tuition charged by the school of your choice, and the potential impact of inflation on your wealth. Working with a financial advisor is an important step in assessing your personal finance situation, determining your family’s educational goals, and finding the best wealth management and saving strategies for ensuring you can reconcile the two. 

What factors should I consider when creating an education plan?

When looking ahead to paying for your children’s higher education, it’s important to understand all the variables that can influence your financial planning. For example, if your children are still in preschool age, your timeline will be longer and you can take a more conservative approach. If, on the other hand, they are already approaching high-school age, you may need to up your contributions to meet your goals in time. You also need to think about your children’s aspirations and how they will affect what type of education they need. Other factors include any financial aid packages that may be available for your children as well as the anticipated cost of tuition. Working with experienced financial planners will ensure you have all the expertise you need to understand and consider all your options.

Brown and Company Education Planning Process

Education planning is an integral component of your comprehensive wealth plan. Our meticulous education planning process encompasses the following steps:

Discuss Educational Goals and Time Frames : Understand your aspirations and time frames for your heirs’ educations.
Evaluate Educational Savings Vehicles : Explore options such as 529 college savings plans and Education Savings Accounts (ESAs) to find the most suitable vehicles for your goals.
Determine Appropriate Investments : Tailor your investment strategy to align with your educational savings objectives.
Integrate into Estate Planning : Ensure that your education plan seamlessly integrates with your broader estate planning.
Look for Tax Deductions : Identify opportunities for tax deductions that will optimize your educational savings.
Implement Strategies : Put the plan into action, executing strategies to pursue your educational goals.

Commitment Beyond Generations

With over 40 years of experience in wealth management, Brown and Company is not just a financial partner; we are a dedicated companion throughout your journey. We commit not only to seeing you through retirement but also to supporting your children and grandchildren as they navigate the path through college and into their careers.

Invest in the future with Brown and Company — where expertise meets commitment, supporting that the next generation is equipped with the educational foundation they deserve.

Frequently Asked Questions

What is the best time to start education planning for my child?

The sooner you get started, the better. Starting as soon as you can gives your investments time to grow and means you’ll be less stressed as college approaches.

Is it too late to create an education plan if my child is already in high school?

Not at all. Even with a shorter timeline, you can use targeted investment strategies and tax-efficient planning to make a meaningful impact.

What kinds of educational savings accounts should I consider?

Some of the most popular options for our clients include 529 plans,), and custodial accounts such as UGMA/UTMA. Each one has distinct tax benefits and contribution rules, and our professionals can help you make sense of them.

What happens to education savings if my child chooses not to attend college?

There are many plans that allow you to transfer funds to another beneficiary, use them for qualified K-12 expenses, or repurpose them for other educational opportunities. We can help you prepare for the possibility your child doesn’t go to college.

How does education planning fit into my overall financial plan?

Planning for your child’s higher education should align with your retirement, estate, and tax strategies. It needs to be a part of your holistic wealth management approach.

How can I balance college savings with retirement planning?

With our help, you can have a balanced financial plan that prioritizes your long-term needs while also supporting your children’s long-term educational goals. We will work with you to develop a financial strategy that considers both your long-term needs and your children’s educational goals.