Investing For Your Child's Education

A big question today is where and what to invest in for your child's education. The most used investment plan for children's education is the 529 plan. There is an article on the education fiasco where Katherine Reynolds Lewis talks about how the 529 plan, a one-stop solution to pay for college, hasn't performed as advertised. In the article it talks about how a lot of parents who have invested in the 529 plan have lost more money than they invested. The parents would have been better off putting the money under their mattress. At the end of the article she recommends the Roth IRA. What do I recommend? I recommend the Index Universal Life policy. It’s interesting how Katherine recommends a retirement savings plan to be used as an educational investment. The Index Universal Life plan works on the same concept as the Roth IRA but it has so many added benefits that the Roth IRA can't compete with. For instance, the Index Universal Life plan offers accelerated living benefits, disability income, wealth transfer and estate planning. Why not set in place everything that your children will need today with the Index Universal Life. This is one of the greatest gifts you can give your children in life. I want you to think about the effect it would have had on your life if your parents had started a life investment policy for you when you were born for $100 dollars a month. By the time you turn 66 years old it would give you an annual income of over $200,000 a year tax free for the rest of your life till age 119. Wouldn’t that give you peace of mind to know that your retirement was set and that you have no worries about your future retirement? Food for thought, we as parents are entrusted with the future of our children and their well being. The choices we make today will affect the outcome of our children's financial future tomorrow.