Tag Archives: college planning


Should You Get An MBA?

If you’re considering an MBA, you face two separate but related questions: Is the degree worth it? And, How will I pay? They are important questions because so many people, including many of our clients, consider going back to school when they want to change careers. But an MBA isn’t an automatic ticket to success, and it carries a high price. A full-time MBA at a top-ranked school costs between $96,000 and $127,000 in 2011, according to Businessweek. The costs at second-tier institutions (many of them big state schools) are $30,000-$40,000 less, but that’s still hefty. The price of school is only the beginning. The opportunity costs of forgoing two years of salary and career advancement are likely to be […]

529 Plans and Saving For College

When it comes to saving for college, there are five important questions: How much should I save? On what schedule?  In which kind of plan?  Which state 529 plan?  What underlying investments should I pick? Based on the fact that you’re reading this blog, you likely already know how important it is to save for your kids’ college education. You may have already started the process. If you have a newborn daughter, you’ll need roughly $490,000 to pay for her engineering degree at Stanford, or $240,000 for a poli sci degree at UCLA, assuming higher education costs increase by 4% a year. Multiply that by two or three to take into account your other (future) children, and the amount seems […]

When A 529 Plan Is Not The Right Option

This is a guest post by Kira Botkin. Kira contributes to the Money Crashers personal finance blog and specializes in financial topics like saving for retirement, finding commonly overlooked personal tax deductions, living a frugal lifestyle, and getting out of debt. You’ve probably by now heard the conventional wisdom: If your children are planning on college (or you’re planning on college for them), a 529 college savings plan is a great way to save for tuition and expenses. In many states, contributions to 529 plans win you a tax deduction for state tax purposes, and the earnings are federal- and state tax-free. That’s the conventional wisdom and it may be right in some cases. But changes in the investing environment […]