EPISODE #033

COLLEGE AND RETIREMENT PLANNING IN TANDEM

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2018 Business Owner's Guide

TAX GUIDE

Leverage the latest tax law changes to increase wealth.

Saving For College

Welcome to the Wealth Curve Talk Podcast, in which John Smallwood, a certified financial planner, identifies key areas of pressure on your wealth and strategizes with you to reduce it.

In this episode, John continues his series on the Wealth Curve Blueprint. This time he discusses saving for college and how that fits into your overall wealth plan.

John is the author of 5 Ways Your Wealth is Under Attack. He has lectured at various educational institutions such as John Hopkins, Haas School of Business, UC Berkeley and UNC Chapel Hill. He has consecutively received the Five StarSM Wealth Manager Award since 2011, and is the former president and chairman of the Rotary Club of Red Bank Foundation.

John’s strength lies in his ability and commitment to continually improve the level and quality of the financial planning process. His macro view approach and dedication to his clients’ growth involves an evolving strategy that strives to meet the demands, desires, and needs of his clients in a continually changing economic environment.

John’s key takeaways from this episode:

  • If your financial plan includes paying for all or part of your kids’ college, the time to think about that is now.
  • If your kids are teenagers—let’s say a year out—it could cost $250,000 per kid in today’s dollars. That means you need the majority of that cost to be funded right now. Otherwise, you will need to be able to pay for it out of cash flow or with student loans.
  • If your children are younger, plan for it to cost somewhere between $40,000 and $70,000-plus per year in today’s dollars, which will go up 2% and 5% a year—inflation adjusted.
  • Make sure you put away enough money every single year, and that it is spread among different vehicles. Then factor in inflation and the growth rate.
  • Don’t forget your retirement goals: make sure that as you save for college you can still put away enough money for retirement to sustain the lifestyle you want.

When we build your Wealth Curve Blueprint we ask, “What percentage of your college goal do you already have covered? Are you saving the right amount of money? What vehicles are you using so that if college ends up being free, you won’t have to pay loads of unnecessary taxes and fees to get your money back?”

Let’s build a Blueprint and Scorecard and let’s look at your college savings along with your retirement savings. For more, listen above. Then schedule a time to come in and talk to us. Call us at 732-542-1565.

I hope to hear from you soon!


Are you ready to increase your profit growth by 25%? John will show you how in the 2018 Business Owner’s Guide To Maximizing Your Benefits From The 2017 Tax Cuts.

Click here to get your complimentary copy.

2018 Small Business Guide To Maximizing Tax Cuts

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How to pay for college

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EPISODE #001