In this episode, Shellee and Emily discuss:
- The best time to plan for college
- Where to put your money for your future needs
- Preparing the FASFA and CSS profile
- Having financial planning conversations with your child with the help of professionals
- Start to save before you have a child. Thinking about and setting goals together, and understanding what type of support and contribution would be made to your future children and their college is easier to do at that time.
- There are numerous options if you want your child to be able to attend college debt-free – you can either save all your money beforehand, you can invest it in accounts that the FAFSA doesn’t look at, or you can invest it in things that make sense to you.
- Planning your financial future and setting both short- and long-term goals is the best way to prepare your FASFA and CSS profiles in advance.
- Don’t let financial obligations for your child’s college get in the way of your financial goals. Ensure that your child understands how his or her college choice will impact their career options, the income they can expect from their career, and the length of time they will be required to work for free.
- Engage in financial planning conversations with the help of professionals who can objectively zoom out and share figures about return on investment and any other area of financial planning.
“It’s good to have those conversations and have that goal setting occur first. And the more organized that you are going into that process, the easier those types of profiles become because you have a clear understanding of your balance sheet as it stands today, and how the college education process fits into your overall life plans and life goals.” — Emily Rassam
About Emily Rassam: Emily works as a Senior Financial Planner for Archer Investment Management, a 100% digital and virtual firm that serves clients nationwide.
She has a genuine passion for assisting clients in making sense of their financial lives and developing clear plans to achieve their objectives. Prior to joining Archer Investment Management, she worked for 14 years at investment firms in New York and North Carolina, where she worked with families, executives, and institutional retirement clients.
Emily is currently a mentor and run leader for Tri It for Life, an organization that encourages women of all ages and athletic abilities to train for their first triathlon. She also serves on the board of YMCA Emerging Leaders in Charlotte, as a foster home for ABC Basset Hound Rescue, and as a Regional Leader and Carolinas Chapter Chair for WIPN (WE Inspire, Promote, Network) wipn.org, a women’s leadership and networking group for women in the retirement industry.
She is a Certified Digital Asset Advisor, Certified Financial PlannerTM, Chartered Retirement Plans Specialist, Accredited Investment Fiduciary Analyst, and National Social Security Advisor.
Connect with Emily Rassam:
Connect with Shellee Howard:
Show notes by Podcastologist: Angelica Rayco.
Audio production by Turnkey Podcast Productions. You’re the expert. Your podcast will prove it.