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Education Planning

After love and self-esteem, the next best thing you can give a child is an education

We understand that as you look upon the faces of your children and grandchildren, visions of dreams, promise and hope for their lives fill your mind. You are seeing your most important job as you hold their small hands, and your largest accomplishment is seeing the legacy you have created. The endless possibility of the mark your children and grandchildren will leave on this world is forefront not only in your mind, but in your heart.

The Prosperity Consulting Group is passionate about supporting your dreams to help you empower loved ones through education. We know that you want a great life, excellence, happiness and opportunity for your children and grandchildren. As the world becomes more competitive, a college education is becoming increasingly important. The rapidly rising cost of college makes this difficult. With proper planning, we can help you make the gift of education a reality.

When planning for college education, we believe in the following principals:

  • Make sure you are saving for retirement first. There are loans for college, not for retirement.
  • Begin saving for education early and consistently. A modest monthly investment will add up to a big difference.
  • College savings accounts should be separate from a general use savings accounts, checking accounts, investment accounts and retirement accounts.
  • Asset allocation and diversification are crucial.

Planning for higher education expenses does not have to be confusing. We help make the process clear and simple for our clients. The tools clients can utilize to help save and finance college include:

529 Plans

  • Money grows tax free, so long as it is used for higher education expenses. The funds may be used for any qualified college or higher education expense, including tuition, room, board, fees, books, supplies, and equipment.

Coverdale Education Saving Plans

  • Money grows tax free for use on qualified elementary, secondary and higher education expenses.

Uniform Gift to Minors Act/Uniform Transfer to Minor Act Accounts

  • These accounts can be set up to allow contributions to a custodial account in a minor’s name. Once the minor reaches legal age, the assets are then transferred to their individual name.
Building Relationships | Delivering Success®
The Prosperity Consulting Group registered as a Registered Investment Advisor (RIA) in 2005. We have with a passion for providing clients with objective investment advice and wealth management solutions. Our purpose, coupled with our fiduciary commitment, is essential in helping clients achieve their financial goals. Our firm is dedicated to providing unparalleled financial planning and investment advice to individuals, families, businesses and institutions. We have identified key areas that are critical and integral to a client’s financial success. These planning areas encompass: Investment Planning & Management Retirement Planning Estate Planning Tax Planning Business Planning Insurance Planning Income Protection & Asset Preservation Education Planning 401(k) Planning
800 Red Brook Boulevard, Suite 300
Owings Mills
Maryland
21117
United States