NAIFA's Advisor Today: Live+Work+Give

NAIFA Live August 2023

Written by NAIFA | 8/9/23 2:43 PM

This month's NAIFA Live taking place on the 17th, focuses on two of some of the most critical aspects of financial planning being college funding and retirement savings. Both can significantly impact an individual's financial stability, and navigating these domains requires strategic foresight and guidance.

Brock Jolly and Tom Henske have been instrumental in offering that guidance. Jolly, NAIFA’s Treasurer, is the founder of The College Funding Coach®, while Henske, a veteran in the financial industry, founded Total Cents.

The College Funding Coach® is Brock Jolly's groundbreaking initiative designed to help families strategize for the financial undertaking of college education. Planning for this substantial cost involves striking a delicate balance; it is essential to save and plan for this significant expense without jeopardizing other financial goals, most notably retirement savings.

Tom Henske's Total Cents takes a different but equally important approach. The program focuses on financial literacy, helping parents instill sound financial habits in their children from an early age. An understanding of money management, including saving, spending, and investing, is foundational for future financial challenges, such as college funding and retirement planning.

The process of funding a college education can greatly affect a family's financial landscape. Whether it's drawing from savings or taking student loans, the decision not only impacts immediate financial circumstances but also future financial stability and retirement plans. The key is to plan early and plan well.

College planning services, like The College Funding Coach®, provide advisors with resources to establish connections with families. They equip advisors with tools to guide families, helping them understand their financial capacity, assess different funding options, and make informed decisions that won't compromise their retirement savings.

In the forthcoming NAIFA Live event, Jolly and Henske will further explore how advisors can assist clients in addressing college-funding challenges. They'll delve into practical solutions that not only focus on immediate college funding but also consider long-term implications on retirement savings.

With early preparation, strategic planning, and sound financial literacy, families can better navigate the complexities of college funding and retirement savings. Programs like The College Funding Coach® and Total Cents serve as beacons, providing much-needed guidance.

The upcoming NAIFA Live event on Thursday August 17th promises a wealth of information. Brock Jolly and Tom Henske will share their expertise and insights, further elucidating the intertwined challenges of college funding and retirement planning. Advisors and families alike will gain valuable knowledge from this discussion, strengthening their approach to these critical financial planning aspects.

If you are not a NAIFA member, you are missing out on this exclusive benefit. Join today!