Our son is 13 and our daughter is just about to turn 11. Before we know it, they will be college-bound. My husband and I started a 529 plan about 10 years ago, but we are still concerned that it may not be enough.
According to many financial experts, if you are putting away enough for retirement, you should start saving for your child’s college education as soon as possible. Did you know that the tuition and fees have increased 51% in only 10 years? Yikes!
If you are like me, you may be interested to find out where you stand on college planning and savings. The folks at the Massachussetts Educational Financing Authority (MEFA) have partnered up with Fidelity Investments to create the U.Fund Dreams Tour.
The U.Fund Dreams Tour is an interactive and educational experience that allows children to participate in fun activities while parents learn important and helpful facts about saving for college.
The Dreams Tour provides an environment where both parents and children can dream about the future while becoming educated about paying for future college costs. I think this information will help set our minds at ease and help us make informed decisions about the planning and savings for our kids.
I’m looking forward to attending one of the U.Fund Dreams Tour events this year. To find out about a Dream Tour event near you, check out their calendar to see the schedule of all upcoming events. There is something for families with children of all ages.
Both of my kids will be in middle school, which is a great time to start talking about preparing for college. We don’t want to put too much pressure on them, but we also want them to know the importance of study skills and starting to decide about possible areas of interest for the future.
I’m happy that I found out more through MEFA and its partnership. I found a great tool from the MEFA blog called Your Plan for the Future. I’m having my kids check this out over the summer.