Best Way to Save Money For College - A Life Insurance Policy?

One of the best ways to save money for college is to invest your money into something that you can not touch or abuse. Meaning whenever someone tries to save money they know that it is there and have a hard time not touching it. Money that you stash away under your mattress is not going to last very long because of our temptation to spend it. So you have to have some sort of investment tool that forces you not to touch that money until the time is ready for when you really need it.
What I am about to share with you is a strategy of what the wealthy do. The wealthy use the same products and services that are available to everyone and leverage certain characteristics of it. For example, if you are a parent then getting life insurance for children is a very strong savings tool used. What? A life insurance policy? Yes, many people think that life insurance policies are for old people, this is far from true.
You see in certain types of life policies you are capable of building cash value within it. Meaning that one day you can trade your policy in for some nice chunk of cash. How much cash? Well, that depends on how old your policy is and what your premiums are. If you buy a life policy on your child at age 3 and do not cash it in until age 18 when most students are ready to head to college then you have got 15 years of cash value that you can trade in for around $36,000 or more, again depends on what you choose your premiums to be.
You can look at this as putting money aside into a policy but getting a bigger return on investment later on down the road. If you put your money in the bank, you will be luck to get $10 over a 10 year period! It unfortunate that schools do not teach these types of strategies in school but with a life policy on your child, you can really take advantage of the service as how all wealthy people leverage financial services.

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