It All Begins With A Thoughtful Strategy
They’ll be off to freshman year sooner than you think. Your J.P. Morgan Private Client Advisor can help you incorporate our college-planning research to help you meet your goals before the big day arrives.
01 - Think About Your Education Goals
The first step is to clarify your vision for the future – not just for education, but all your goals. This way, we can begin to plan holistically. We’ll help you fine-tune your priorities and project how much you’ll need based on your goals. J.P. Morgan’s comprehensive research makes it possible.
At this point, you list the types of colleges you’re considering, how much they might cost, and how much can you afford to save?
Because college costs are only going up. Here’s a generation’s worth of tuition, fees and room and board (in 2019 dollars)
02 - Understand Your Funding Options
Funding for education can come from any combination of savings, investing, borrowing or financial aid. We’ll help you understand the benefits and disadvantages of each option. Everyone's situation is different and you should speak to your tax advisor about what would work best for you.
Remember: the sooner you start saving and investing, the more you'll benefit from the power of compounding growth.
03 - Implement Your Strategy
Based on your goals, we’ll help you project how much you might need and create a strategy that reduces taxes and maximizes growth potential.
The Advantages of Starting Early
Total amounts accumulated over 6, 12 and 18 years starting from 2019
Source: J.P. Morgan Asset Management
04 - Optimize Your Plan Over Time
The strategy you develop isn’t set in stone – it’s your starting point. As time goes on, you and your advisor will meet periodically to monitor your progress and revisit your goals. We’ll help you modify your strategy based on changes in your priorities or what’s happening in the market.
Ready to Plan an Education? Get In Touch
"We have an obligation to give our kids as much opportunity as we possibly can."
Nahid and Farzana wanted to plan for two college funds, preparing for retirement and purchasing a home at the same time. Working with their Private Client Banker, Pragya, and their J.P. Morgan Private Client Advisor, Brendan, they developed a personalized strategy that allowed them to do just that.†
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