How to Start Saving for Your Child's College Education

It can feel overwhelming, but don't let that stop you, because you really can do it. Start today. Here's how.

(Image credit: Zing Images)

Congratulations! You’re a new parent! You probably have a lot on your mind with all of the immediate challenges and rewards that come with this “job,” and you may not feel prepared to think 18 years into the future. However, it behooves all parents, first-time or otherwise, to start planning for their child’s college education from Day 1, even if it produces a lot of anxiety or seems like something you can put off for a bit.

As a financial adviser for 13 years, and a parent for 22, I have both seen and experienced the distress. I have said to many a client: “Kids — they suck the financial soul right out of us, but it’s all worth it!”

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Jamie Letcher, CRPC®
Financial Adviser, LPL

Jamie Letcher is a Financial Adviser with LPL Financial, located at Summit Credit Union in Madison, Wis. Summit Credit Union is a $5 billion CU serving 176,000 members. Letcher helps members work toward achieving their financial goals and through a process that begins with a “get-to-know-you” meeting and ends with a collaborative plan, complete with action steps. He is a member of FINRA/SIPC, a registered broker-dealer and investment adviser.