College Costs Really Are Increasing Again – August 2017
The College Board reports that the average published charges for tuition, fees, room, and board at private, nonprofit, four-year schools were over $45,000 in the 2016-17 academic year. At public universities, the average charge was around $20,000 for state residents. Both numbers are the highest on record.
What’s Inside
- College Costs Really Are Increasing Again
- Start FAFSA Planning Earlier
- Asset Allocation in 529 Plans
- Outlining the Trump Tax Plan
- How Small Business Retirement Plans Compare
- Tax Calendar
A staple in retirement planning is the search for “your number.” That is, how much money do you need to accumulate in savings and investment accounts so you can afford to stop working? Life expectancy is increasing, so the amount you have when you retire might have t last for decades.
The second-best investment you can make is paying off high interest rate debt (see CPA Client Bulletin, August 2016). That could come after you’ve contributed enough to your 401(k) to get a full match from your employer. What should come next? If you have no expensive debt to pay down and you’re getting the full employer match, where should you direct your money? Here are some suggestions.