Funding College through Real Estate Investing Club Palooza Makes It a Family Affair
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Funding College through Real Estate Investing: Club Palooza Makes It a Family Affair
Funding College through Real Estate Investing: Club Palooza Makes It a Family Affair
Summary:
As college costs continue to rise, many families are turning to real estate investing as a creative solution. This approach not only helps fund education but also instills valuable financial skills in young family members.
Article Body:
Paying for college has become a significant family responsibility, with tuition and associated costs continually increasing. Encouraging children to value a college education and contributing to the financial effort fosters family unity and personal growth. Teaching financial responsibility from a young age can lead to lifelong benefits.
In the 2006-07 academic year, average annual costs were $22,218 for private four-year colleges, $5,836 for public four-year institutions, and $2,272 for public two-year schools, according to CollegeBoard.com.
Many Options, Loans as a Last Resort
Fortunately, various options exist to address college funding. Education credits such as the Hope credit and lifetime learning credit are available to reduce tax burdens. Parents can explore 529 college savings plans, and grandparents may qualify for state income-tax deductions through different financial instruments. Be aware of the 2008 "kiddie tax" law, which affects asset transfers to children to minimize taxes.
While debt isn't ideal, it may be unavoidable. Needs-based resources include the Federal Perkins Loan Program. Federally guaranteed loans, both subsidized and unsubsidized, are also available, with information accessible via the U.S. Department of Education's National Student Loan Data System (http://www.nslds.ed.gov/).
The Power of Early Investment
A head start in saving for college can make a significant impact. One effective strategy is an automatic investment plan (AIP), which transfers money into a mutual fund tailored to your timeline. AIPs leverage dollar-cost averaging, a proven investment strategy that allows you to buy more shares when prices are low.
Real estate investing is another innovative approach to college savings, although often overlooked. Club Palooza offers a unique educational experience for families interested in real estate. Young attendees can participate for free when accompanied by a registered adult, gaining valuable financial literacy in the process.
Club Palooza: A Lasting Legacy
Part of the prestigious Investor Palooza conference, Club Palooza focuses on teaching financial skills to both adults and young relatives. This year's event takes place from January 18-20, 2008, at the Renaissance Charlotte Suites Hotel in Charlotte, North Carolina. Among the 12 renowned speakers is Ken Edmonds, a veteran real estate investor who has taught financial literacy since 1975. Edmonds aims to empower young people to manage their financial lives effectively, freeing them to focus on other pursuits.
As one student remarked, "Mr. Edmonds taught us how not to lose sleep over money but to make money while we sleep."
For more details on Investor Palooza and Club Palooza registration, visit www.investorpalooza.com. With only 75 spots available, early enrollment is recommended.
You can find the original non-AI version of this article here: Funding College through Real Estate Investing Club Palooza Makes It a Family Affair.
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