"The Best Way to Save for College" by Joseph F. Hurley is a comprehensive guide that provides valuable insights and practical advice for parents and students who want to save and invest effectively for their college education. The book explores various saving options, such as 529 plans, Coverdell Education Savings Accounts, and custodial accounts, and discusses their benefits and drawbacks.
Hurley emphasizes the importance of starting early and outlines different strategies for maximizing savings. He provides clear explanations and easy-to-understand advice on setting realistic goals and creating a savings plan that aligns with individual financial circumstances. The book also highlights the power of compound interest over time and encourages readers to take a proactive approach to saving.
One of the standout features of the book is its coverage of financial aid considerations. Hurley explains the impact of college savings on financial aid eligibility and offers strategies to minimize this effect. He delves into the concept of the Expected Family Contribution (EFC) and provides insights on how to lower it through smart strategies. By addressing these important considerations, the book enables readers to make informed decisions that balance their savings goals with potential financial aid awards.
Available on Audible
In addition, the book provides a comprehensive analysis of tax implications related to college savings. Hurley simplifies complex tax-related information and explains the potential tax advantages of various savings options. This allows readers to understand the tax implications of their savings choices and make informed decisions that can maximize their savings potential while reducing their tax burden.
Overall, "The Best Way to Save for College" is an informative and practical guide that empowers readers to make informed financial decisions. From explaining different savings options to providing strategies for maximizing savings potential, Hurley offers valuable insights that help parents and students save effectively for their college education. This book is a valuable resource for anyone planning for the future cost of education.
What are readers saying?
"The Best Way to Save for College" by Joseph F. Hurley has sparked a range of opinions among readers. Some found the book informative and helpful in offering guidance on how to save for college expenses. They appreciated the author's clear explanations of different savings options and found his advice on strategies and tax implications valuable, especially for parents embarking on their child's education journey. The book's practical tips and relatable examples were also praised for simplifying the complex topic of college savings.
However, some readers expressed disappointment with the book. They believed that it contained outdated information and failed to address the impact of emerging technologies and evolving financial landscapes on college savings. These individuals felt that the book missed the opportunity to discuss newer strategies and resources available to parents, limiting its usefulness in today's world.
Moreover, a few reviewers pointed out that the book lacked depth. They felt that it only scratched the surface of college saving options and failed to explore more advanced strategies. These readers desired more in-depth analysis and detailed case studies to make better-informed decisions about saving for college.
In conclusion, "The Best Way to Save for College" has received mixed feedback from readers. While it provides clear explanations and practical advice for those beginning their college savings journey, some readers found it lacking in updated information and depth. It may serve as a useful starting point for novice savers but might not satisfy readers seeking more comprehensive and contemporary guidance. Additional resources may be necessary for those looking for more up-to-date and in-depth information on saving for college.