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A College Education Minus the Debt

Written by Jeff Schlotterbeck, CFP® on .

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.

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Financial Dangers Facing Women in Retirement

Written by Jeff Schlotterbeck, CFP® on .

 

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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, 

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What comes next?

Written by Jeff Schlotterbeck, CFP® on .

Below is an email that was sent out this week to clients with my perspective on how the crisis in Ukraine could affect markets.

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How to Avoid Falling Victim to a Scammer

Written by Jeff Schlotterbeck, CFP® on .

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It wasn’t that long ago when our money and assets were safe, at least there was a high degree of perceived safety.

Investment accounts were secured by SIPC insurance. The same could be said about FDIC-insured bank accounts. And, if you spotted a fraudulent charge on your credit card, all that was required was a quick phone call to the number on the back of your card, and it was removed.

Sure, there were fraudsters and scammers, but potential access to your personal finances was much more limited.

Those same SIPC, FDIC, and credit card protections remain in place today. Unfortunately, the advent of the Internet, social media, and a global reach have led to a proliferation of scams that can quickly deliver a knockout blow to your savings.

While you need not be in a perpetual state of readiness, a healthy level of vigilance and skepticism can go a long way. It will protect your savings and prevent you from becoming a victim of fraud.

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