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Milford financial planners are an excellent resource for Connecticut parents who want to create a strategy to pay for their children's higher education. With tuition at private, four year undergraduate colleges reaching an average of $35,000 according to U.S. News and World Report, and public tuition not far behind, a college savings strategy is becoming increasingly vital to ensuring that you are prepared for the costs. A Milford financial planner can help you review all your options for the entire process of college savings, from choosing investments to developing a budget for you son or daughter throughout school. A Milford advisor can even help you prepare for options at schools both in Connecticut and nationwide.

Financial Basics for College Saving

Most Connecticut financial planners advise opening a savings account for your kids' college tuition as early as possible, particularly if you have more than one child. The sooner you seek professional help in the Milford area with your personal finances, the more options you have in regard to the schools you can afford, the locations you can consider, and other factors related to your children's advanced education, including graduate school. Even if you feel like you don't have much to put aside, a Milford financial planner can recommend the best savings accounts for each stage of your children's lives. Some Milford parents even seek advice before their children are infants to get recommendations on the best long-term accounts for CT residents.

Fortunately, Milford financial planners also understand that circumstances sometimes prevent you from having the extra money to start a savings account for college when your kids are young. Seeking the advice of a Milford financial planner can help you develop a plan even if you get a late start and can often help you correct mistakes or find changes in your lifestyle that will help you save more for your kids' education. A Milford advisor can even help you with other areas of your financial future, including your long-term savings and offer great retirement tips.

Personal Finance Beyond Tuition

Milford financial planners are more than just great resources for your college savings strategy. Certified financial planners in the CT area can also help you develop a sound budget for your day to day living that can help you save for all your personal finance goals, including a little extra for vacations and your retirement. A Milford financial planner can even become a resource for your children, helping them to develop good habits before they get their first taste of financial freedom at college. Personal finance planners in Milford can help CT teenagers better understand the consequences of using credit cards and starting adulthood with high interest credit card debt.

Choosing a Milford Advisor

Since your personal finance advisor is someone with whom you will likely work closely for many years as you plan your children's savings, long-term goals, and retirement, one of the biggest factors to consider when looking at planners is your personal relationship with both the advisor and the firm. Excellent communication skills and an established level of comfort are important. Knowing that your advisor understands your long-term goals and your comfort with risk when it comes to investments can help establish peace of mind that your financial planner has your best interests at heart.

This isn't to say that you should never disagree with your finance planner. Sometimes a healthy disagreement can improve your portfolio. If you are naturally aggressive with risk, your advisor can help balance that bold streak with less risky securities, like bonds or a well diversified mutual fund. If you are more risk averse by nature, a team of personal finance planners can help pull you out of your comfort zone by suggesting smart, assertive investments that will help grow your money to its fullest potential. A final factor to take into consideration is the size of the Connecticut firm you choose. If you are comfortable consulting with several different planners, you might feel happier with a large firm. If you prefer to work with a single Milford financial planner with whom you can form a close relationship, you will probably want to research local advisors.

No matter what your economic situation is, Milford financial planners can show your whole family how to develop healthy spending and saving habits, including how to save for your kids' future education and how to build your nest egg. With college tuition rising steadily and increasing pressures on young adults to take on credit card debt and spend beyond their means, developing a clear strategy for both you and your children with the help of a certified personal finance planner can help you send your kids to college and ensure they make good money decisions once they are at school.

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Financial Planners in Milford

Peter Scholtz
Peter Scholtz
107 Elm Street
Four Stamford Plaza, 5th Floor
Stamford, CT 06902

Beth London
Beth London
74 Batterson Park Road
2nd Floor
Farmington, CT 06032

Nick Friedman
Nick Friedman
10 Bank Street
White Plains, NY 10606

Emil Ben-David
Emil Ben-David
1130 RXR Plaza
Uniondale, NY 11556

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