College Savings Plan
Oklahoma City Financial Planning Pros College Savings Plan
If you like the way our unique plan works for adults from a financial planning and a retirement planning standpoint, you will surely love how well it works for young children and college savings programs. This plan is simply SMART. It’s the smartest college savings plan you will ever see.
If you’re looking for the perfect college savings fund, you’ve found it.
The majority of the “traditional” college type saving’s plans out there are absolutely loaded with endless restrictions and limitations.
Most of the mainstream college savings programs limit the use of your funds and require that you ONLY use the funds for college tuition. If you ever take the funds out for any other reason, you get slapped hard with big penalties and/or fines. This hardly seems fair. After all, what if your kid decides that college is not right for them? Or what if an unexpected illness or emergency comes up that you may need the funds for? If you are locked into one of those traditional college savings plans, you just do not have many good alternatives. You either have to use those funds for college, or you are then forced to pay the penalties and fees if you need to use those funds for something else. This hardly seems fair. After all, it’s YOUR money, right?
A properly structured and funded Barefoot College Plan can serve you in a variety of ways. First, we can set this specialized college savings plan up to take care of your children’s college expenses however, our plan can also serve as a retirement program for your children as well. Here’s how this simple plan works.
You fund this plan for your child or children. You can set these specialized plans up for children beginning at any age. You can even set them up for newborns. When your children reach or approach college age, IF they decide they don’t want to go to college, no problem. YOU are in control of your college fund. It’s YOUR money and it’s your plan. You can use these funds for ANYTHING you want like; helping your child start their own business, travel the world, covering medical expenses, lean a trade, or anything under the sun they decide they want to do. You can spend the funds on anything at all that you wish; it doesn’t matter. There are NO RESTRICTIONS on taking funds out. You can take them out at ANY time for ANY reason. Plus, there are zero penalties for taking funds out.
If your child ends up deciding that they want to go to college, no problem. We will show you a unique way to actually borrow the funds out of the plan to pay for college. Doing it this way, your funds in the plan will CONTINUE to have the ability to grow, depending on market conditions, even though you borrowed the funds out against them to pay for college. And yes, of course this is perfectly legal and acceptable. Thousands of people do this every year. This just happens to be a little known plan that does not get talked about like the other Government sponsored plans.
If you wish, you can then choose to pay back the funds you borrowed out, or not. We work closely with you and can help you determine what is best for you and for your individual situation. Then you simply let the funds in the account grow until your child reaches retirement. Regardless of what happens to your child along the way, as long as they keep this plan up, they will have , a retirement program that they can rely on later in life. Our college savings plan quite simply beats the pants off of ANY other college saving program on the planet!
Check out how our very specialized plan compares to other mainstream plans on the chart below.
Talk with us today and let us show you all of the many benefits of our specialized types of college savings plans.