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Education Planning Services

Make Someone's Dream Come True

Shaping Futures with Education Planning Services

Our approach to education planning transcends the conventional, creating plans that enhance your ability to support educational aspirations and secure a brighter future for your loved ones.

Understanding that each individual’s educational goals are unique, we tailor our assistance to reflect your specific dreams, whether you’re saving for a child’s or grandchild’s college education, preparing for a loved one’s academic future, or investing in lifelong learning for yourself. 

Education Planning at Riverbend Wealth Management

Schedule a No Obligation Complimentary Assessment Today

“We have been clients of Jeremy and the Riverbend team for over two years. We continue to be very impressed with the financial planning expertise and customer service provided by Riverbend…”

– John Houck

“We met with Jeremy today for a free consultation. He is awesome! Gave us some great short-term and long-term advice on retirement planning. No sales pitches or pressure to use their services. We really felt like he just wanted to help us. Highly recommend!”

– Jean Hiers

“I highly recommend Jeremy & his team at Riverbend Wealth Management. This team is honest and conduct business built on integrity and a high level of customer service.”

– Daniel Grossi

Plan Ahead with Education Planning

Empowering Educational Aspirations

Personalize education strategies that are also tax efficient and congruent with your life’s goals.

With us, education planning is more than setting aside funds; it is about supporting your educational ambitions today and laying the groundwork for an educational legacy for the future.

Core Values of Riverbend Education Planning

Personalization

Designing education planning solutions as unique as you, tailored to meet your individual educational goals, savings preferences, and financial timeline.

Diversification

Allocating education funds across various savings options to mitigate risk and capitalize on growth opportunities in different financial conditions.

Adaptability

Remaining adaptable to adjust plans in response to financial shifts and life changes, ensuring your education savings continue to align with your goals.

Discipline

Maintaining a long-term perspective and a disciplined approach to education funding, avoiding impulsive decisions based on short-term financial trends.

Transparency

Offering clear, straightforward guidance and keeping you informed about your education savings and how they contribute to your overall financial strategy.

Comprehensive Services for
Strategic Education Planning

College
Savings

Establishing and overseeing college savings accounts helps optimize your contributions for tax benefits and growth potential.

Education Funding

Crafting a personalized funding strategy helps identify the most effective ways to cover education costs.

College Cost Analysis

A comprehensive financial analysis of college costs, including an in-depth comparison of in-state, out-of-state, private, and public institutions.

Education Portfolios

Tailoring the investment choices within education savings plans to help align risk tolerance growth enhancement.

Gift and Estate Planning

Integrating education funding into your gift and estate planning can help secure educational opportunities for future generations.

Funding Balance

Developing a plan that balances the need to save for retirement while funding education helps with financial stability.

Education Loan Analysis

Evaluating loan options, terms, and repayment strategies can help minimize the financial burden of borrowing.

Insurance Planning

Implementing insurance solutions safeguards against unforeseen circumstances that could impact the ability to fund education.

Expense Budgeting

Creating a comprehensive budget for education expenses helps in managing cash flow effectively.

Tax Planning

Employing tax-efficient strategies for education expenses can help reduce the overall cost of education and increase the funds available for use.

Education Planning for Every Financial Vision

We recognize that every educational dream is as distinct as the individual who dreams it. Our proficiency in education planning lies in personalizing strategies that not only aim to fulfill your specific educational goals but also adapt to the changing dynamics of your life and financial landscape. Whether you’re a parent saving for your child’s future college, an adult navigating the return to education, or a grandparent wishing to contribute to a grandchild’s educational journey, our knowledge is at your disposal, transforming educational aspirations into achievable realities.

Education Planning for Parents and Guardians

Parents and Guardians

We provide innovative solutions that strengthen your ability to finance your child’s education while simultaneously addressing your personal financial objectives.

By starting to save early, taking advantage of compound interest and tax benefits, our strategies help you meet your child’s educational aspirations without compromising your financial well-being.

Educational Planning for Your Later Years

As the pursuit of further education in later stages of life becomes a reality, strategic education planning becomes increasingly essential.

We specialize in developing education funding strategies that help balance growth with financial prudence, preparing you for a future where achieving your educational goals and maintaining financial stability coexist.

Education Planning for Grandparents and Extended Family

Grandparents and Extended Family

Supporting a child’s education as grandparents or extended family members should come without financial burdens. Our focus is on optimizing the way you contribute to a child’s education, ensuring your generosity flourishes through tax-efficient gifting, educational trusts, or investments in 529 plans.

This approach helps you provide valuable support for your loved one’s educational journey while maintaining your financial health.

Why Choose Us

Our seasoned advisors offer not only their extensive knowledge but also genuine empathy and personalized attention, ensuring your unique educational aspirations, goals, and concerns are fully acknowledged and appreciated. We go beyond traditional financial planning, embarking on a collaborative journey to carefully shape the educational future of your loved ones.

Fiduciary

As a fiduciary, we are legally and ethically bound to put your interests first, above anyone else’s, including our own.

Fee-Only

We are paid directly by you and do not receive commissions. We are required to provide objective advice.

Experienced

Our team, led by Certified Financial Planner and Certified Investment Management Analyst Jeremy Finger, has decades of combined experience helping clients achieve their financial goals.

Customization

Every person is unique and deserves a tailored plan that matches their specific needs and objectives.

Partnership

As a partner of Fidelity Investments, we have access to a wide range of resources, research, to support our clients.

Let's Shape Educational Dreams Together

Let your educational goals find their advocate. Connect with Riverbend Wealth Management and discover how our education planning services can transform your approach to funding education. Together, let’s open the pathway to a secure and prosperous educational future for you and your loved ones.

Schedule a No Obligation Complimentary Assessment Today

Frequently Asked Questions

An education planner specializes in helping individuals and families create and implement strategies for funding educational goals. They assess financial situations, explore savings options such as 529 plans or educational trusts, and offer guidance on scholarships, grants, and loans. Their role is to tailor education funding plans that fit the unique needs of each client. By providing personalized advice and strategic planning, education planners play a crucial role in making educational dreams achievable.

Education planning refers to the process of preparing financially and strategically for future educational expenses. This involves setting educational goals, assessing current financial resources, exploring various saving and investment options, and implementing a plan to meet those goals. Education planning can include saving for college tuition, funding for private schooling, or allocating resources for lifelong learning opportunities. The aim is to ensure that individuals or families can afford education without undue financial stress, leveraging tools like 529 plans, scholarships, grants, and financial aid counseling to achieve this objective.

  1. Goal Setting: Identifying specific educational objectives, such as saving for college tuition, graduate school, or vocational training, is the foundation of education planning. Clear goals provide direction for the planning process.
  2. Assessment of Resources: Evaluating current financial resources, including income, savings, and potential scholarships or grants, is essential. Understanding what is available helps in crafting a realistic plan.
  3. Risk Management: Considering the potential risks, such as market volatility or unexpected changes in financial circumstances, and planning for these uncertainties ensures that education goals remain attainable.
  4. Investment Strategy: Selecting the right savings and investment options, such as 529 plans, Coverdell ESAs, or custodial accounts, tailored to the individual’s risk tolerance and time horizon, is crucial for growing education funds.
  5. Monitoring and Adjustment: Regularly reviewing the education plan and making adjustments in response to life changes, financial market shifts, or progress toward goals ensures the plan stays on track to meet educational objectives.

Education plans work by setting aside funds specifically for future educational expenses. These plans often involve opening dedicated savings or investment accounts, such as 529 plans or Coverdell Education Savings Accounts (ESAs), which offer tax advantages to incentivize saving for education. Contributors can deposit money into these accounts, where it can grow tax-free or tax-deferred. When the time comes, the funds can be withdrawn tax-free for qualified educational expenses, such as tuition, books, and sometimes room and board.

The process starts with setting educational goals, assessing financial resources, and then choosing the appropriate education savings plan based on factors like the investor’s state of residence, investment options, and tax benefits. Regular contributions are made into the account, taking advantage of compound interest over time. Education plans also allow for flexibility and control over the funds, enabling changes to beneficiaries if needed and choices in how the funds are invested and spent.

If the beneficiary of a 529 plan does not go to college, there are several options available to the account holder:

  1. Change the Beneficiary: The account holder can change the beneficiary to another family member who can use the funds for qualified educational expenses. This could be a sibling, cousin, parent, or even the account holder themselves, for their own educational pursuits.
  2. Withdraw the Funds for Non-Qualified Expenses: The account holder can choose to withdraw the funds for non-educational purposes. However, this will incur income taxes on the earnings portion of the withdrawal, as well as a 10% federal penalty tax on the earnings.
  3. Hold the Funds: The account holder can keep the funds in the 529 plan in case the beneficiary decides to attend college or pursue qualified education in the future. There is no age limit on using the funds, and the account can remain open indefinitely.
  4. Use for Other Qualified Education Expenses: Beyond traditional college degrees, 529 plan funds can be used for other types of qualified education expenses, including vocational schools, trade schools, and certain apprenticeship programs. Additionally, up to $10,000 can be used for K-12 tuition expenses annually, and a lifetime limit of $10,000 can be used to pay down student loan debt.

These options provide flexibility, allowing the account holder to adapt to the beneficiary’s educational path or career choices without necessarily facing significant financial losses.

  1. Limited Investment Options: 529 plans typically offer a set menu of investment choices, which might not suit all investors. This can limit the ability to tailor investments to specific preferences or market conditions.
  2. Penalties on Non-Qualified Withdrawals: Withdrawals not used for qualified educational expenses are subject to income taxes on the earnings and a 10% federal penalty on those earnings, reducing the plan’s value for non-educational use.
  3. Impact on Financial Aid: Assets in a 529 plan can affect the beneficiary’s eligibility for need-based financial aid. While parent-owned 529 plans have a minimal impact, distributions from a 529 plan can reduce aid eligibility for the following year.
  4. State-Specific Benefits and Limitations: While many states offer tax deductions or credits for contributions to their own 529 plans, those benefits are not universal. Additionally, some state plans may have higher fees or lower performance compared to others.
  5. Complexity in Changing Beneficiaries: Although it is possible to change the beneficiary of a 529 plan, there can be restrictions and complexities, especially if the new beneficiary is not a family member of the original beneficiary.
  6. Investment Risk: Like any investment, 529 plans carry the risk of market fluctuations. The account value can go down as well as up, depending on market conditions, which could affect the amount available for education expenses.

Understanding these disadvantages is crucial for making an informed decision about whether a 529 plan is the right choice for saving for educational expenses.