Saving for College Without Going Broke

Raising kids is a financial challenge all by itself. Saving additional money for college can seem all but impossible. Bank On Yourself is a proven method for creating guaranteed growth, while preserving all of your options when it comes to the tangled web of transferring assets to your children when it’s time for college.

Too many Americans pay for college with money that could have gone to finance their retirement and to enjoy more of life’s luxuries. When you use the Bank On Yourself concept to finance a college education, you won’t wake up in the middle of the night in a cold sweat worrying if the money will be there when you need it.

Traditional College Savings Plans Fail to Live Up to Their Promises

As the saying goes, a mind is a terrible thing to waste. And as many parents are discovering in the wake of the 2008 crash, so are years of savings for their kids’ college. Sponsored by states and pushed by brokers, 529 plans were supposed to be the best way for parents to handle the rising cost of college tuition…

…At this point brokers, who account for about half the 529 plans sold, can offer only cold comfort.”

– SmartMoney.com
A Setback for College Savings

The most common methods used by families saving for college for their youngsters include traditional investment and savings accounts, UGMAs (Uniform Gift to Minors Accounts), UTMAs (Uniform Transfer to Minors Act), and 529 college savings plans.

 

Have you looked at the restrictions on those 529 college savings plans?

If your child decides not to go to college, your money may be locked up until you’re nearly 60 years old… unless you decide to go back to college and use it yourself. You’ll pay hefty penalties for using it for anything besides college classes. With Bank On Yourself, your equity in your policy is available to you whenever you need it (typically within a few days), and for whatever purpose YOU want.

The UGMA and UTMA plans have the opposite problem. The money now belongs to the child. You have little control over what happens to it.

And using student loans saddles the graduate with debt that averages $20,000. That’s a tough way to start out in life.

Using the Bank On Yourself concept to finance a college education gives you flexibility and many advantages you don’t get with traditional methods of saving for college.  You don’t have the risk of loss due to market fluctuations, and you could recapture the money you pay and use it to finance a comfortable retirement.

The bottom line is that Bank On Yourself is about knowing the money will be there when you need it.

Receive a free, no obligation analysis…

A Bank On Yourself Authorized Advisor (a life insurance agent with advanced training on this concept) can show you the details and explain the nuances of using your plan for college expenses.

Just fill out the simple Analysis Request Form today.

Bank On Yourself Funds Are Exempt From FAFSA Reporting

Because your funds are sitting in the cash value account of a specially designed, dividend-paying whole life insurance policy, they do not count against you in the calculations for financial aid. These funds are not reported as assets on the Free Application for Federal Student Aid (FAFSA). This means that your chances for scholarships and financial aid are greatly increased.

The Last-Minute College Funding Alternative

Because of the unique features of the Bank On Yourself concept, you may even be able to start funding a college account when your children are in their early teens and still have enough to help out. In addition, the money you take from your plan will be replaced as you pay yourself back, and you’ll be able to use those dollars for retirement, vacations or other financial needs and wants.

Tom Snyder didn’t start a college fund until his daughter Kelsie was 14. That’s when he discovered Bank On Yourself.

“Kelsie is sixteen now. Two years out, when she’s entering college, there’s going to be about $35,000 or so in the Bank On Yourself policy. Basically I’ll be paying myself back instead of doing it through a conventional bank. Colleges here are funded heavily by the state, so if she goes to a state college, it’s a good bargain. Even if she goes to our best state school, the tuition is only around $5,000 a year. It may not be adequate if she’s going to a school that has a higher tuition, but it will certainly be more helpful than not having anything. And during the four years that she’s on campus, the fund will continue to grow.”

So even though Tom started late, his Bank On Yourself policy will still make college possible for his daughter.

Bank On Yourself: A Better Alternative to a State-Sponsored 529 Plan…

Bill and Meloney Liebler of North Carolina discovered the pitfalls of 529 plans and a much better alternative. Read this fascinating interview with Bill, excerpted from the best-selling book, Bank On Yourself.

Pamela Yellen Knows the Exact Future Worth of Her Grandkids’ College Funds

College funding doesn’t have to be a challenge just for parents and their college-bound children. In her book, author and Bank On Yourself founder, Pamela Yellen, describes her own strategy for paying for her two grandchildren’s college education:

“We started policies designed to maximize the power of the Bank On Yourself concept for each, when Jake was six and Halle was three. The plan we set up for Jake will provide about $90,000 for his college education expenses by the time he graduates, based on the current dividends. And Halle’s plan will throw off about $125,000.”


What is Bank On Yourself?

It’s a way to grow your savings safely and predictably, based on a financial asset that has increased in value by a guaranteed and predictable amount every single year for more than 160 years.

It relies on a specially-designed, little-known type of dividend-paying whole life insurance policy with specific riders added to it that grow your cash value up to 40 times faster than a traditionally designed policy.

Your money is protected by a multi-layer safety net and stringent regulations placed on these insurance companies.

All plans are custom tailored by Authorized Advisors with special training in this method.

You can pay for college by taking cash value loans from your plan whenever you need them.

In contrast with market-based 529 plans, Bank On Yourself will provide you with absolute certainty how much your plan will be worth on the day your child starts college. You’ll never lose sleep wondering what the stock market will do next.

Why request an Analysis?

The purpose of this Analysis is to show you the bottom-line, guaranteed growth you would get in a plan, including how much you would have when your child begins college. Depending on how your plan is structured, you may continue to use it as a method of funding your own retirement or to provide a source of financing for other major purchases. The Authorized Advisor you will be referred to when you submit your free Analysis request will explain how this works.

Your policy will be custom tailored to your unique financial situation and set up to help you meet the educational goals of your children, no matter at what age you start saving.

Worried about finding the money?

The Bank On Yourself Authorized Advisors are masters at helping people restructure their finances to free up more seed money to fund a solid plan that can help you reach your goals – without the risk, volatility or restrictions of traditional college savings plans.

After you see your Solution…

You will know if the plan makes sense for you or not. If it does, the Advisor selected for you will help you implement the plan and provide ongoing guidance on using it to maximize not only your college funding, but also to increase your lifetime wealth and minimize your taxes.

Bank On Yourself was established in 2002 to educate Americans about this proven way to have a rock-solid financial plan, with no luck, skill or guesswork required.

If you’d rather print out and fax or mail your request, you can download and fax a PDF version of this form.

About: On this site and in Pamela Yellen’s best-selling book, you can learn how the Bank On Yourself method is helping hundreds of thousands of people grow their nest-eggs safely and predictably, even while stocks, real estate and other investments tumble. Although Ms. Yellen is not a financial advisor or insurance agent, she has served as a consultant to the financial services industry since 1990.

Note: The Bank On Yourself system uses generally available whole life policies and riders. The information presented here is for educational purposes only and is not a solicitation for the purchase of any insurance or financial product.

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