Fully funding a college education without debt is no simple task. It’s no secret that the cost of a four-year degree has soared. But do you realize how much it has risen?
According to Education Data Initiative, the average cost of college tuition and fees at four-year public schools has risen 179% over the last 20 years. It’s an average annual increase of 9.0%.
The average cost of tuition and fees at private four-year schools has risen 124% over the same period for an average annual increase of 6.2%.
That is an increase from an annual cost of $3,349 to $9,349 for a public university and $14,616 to $32,769 for a private school.
The statistics are sobering, and students are piling up unmanageable debts to secure a degree.
But there are ways to reduce out-of-pocket expenses and avoid or at least minimize the need to take on debt.
Social security is a good supplement, but it is not nor was it ever designed to fully meet your financial needs in retirement.
Saving for retirement is a deliberate choice. Unfortunately, women face greater challenges than men when it comes to setting aside funds for retirement.
For example, according to the Department of Labor,
Below is an email that was sent out this week to clients with my perspective on how the crisis in Ukraine could affect markets.