Power of Starting Early & Saving Often
|Savings Amount||Savings Beginning at Child's Birth||Savings Beginning on Child's 5th Birthday||Difference in Final Account Balance|
|$1,000 per month||$349,345.16||$219,171.86||+ $130,173.30|
|$500 per month||$174,672.58||$109,585.93||+ $65,086.65|
|$250 per month||$87,336.29||$54,792.97||+ $35,543.32|
Impact of Inflation on the Cost of Education
Balancing the cost of raising a family, saving for your own retirement and saving for your children's college education can be daunting tasks, but all of these should be considered.
|School||Current Annual Cost||Projected Cost in 18 Years|
|West Chester University||$17,589||$219,627|
|Penn State University||$28,434||$355,045|
|Ohio State University||$39,031||$487,366|
|University of Pennsylvania||$63,526||$793,226|
As you begin having conversations with your children, contact Annuity Strategic for some help. Sometimes words can be difficult to fully comprehend for a teenager but when there is objective data, interactive charts and real numbers in front of them, it can sometimes be easier for them to see what kind of long-term impact college decisions can have.