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And we have with us Ryan Franklin a financial planner with moss Adams well advisors in out -- I tell you what I look at it I have three young kids it's gonna cost me close to a million dollars for as I said.
Then to learn how to do -- slides in all the things that you do AK party's.
So to me it's almost -- it's -- but there how -- -- million pounds in the next seven years.
That's a little bit daunting to think about that per share.
I think the place that I would encourage people to start thinking about is put together a good.
Realistic budget for what you think it's gonna cost some day.
And then to start to tackle those -- at a time icon chop it into three pieces the first is going to be what you're gonna save physically between now and then.
The second piece would be you know -- a student gonna contribute something potentially summer jobs part time work -- that sort of thing.
And in the last one of course if we need to go there is is student loans to.
You you know the -- -- In two -- eleven the average student graduated with over 20000 dollars in debt that's of course you know in a job market where there's nothing out there to help them pay for it.
It's really hard to encourage your kids to say oh by the way you acted go to work to take on all this deaths.
Did you -- universities are partially to blame for the consistent tuition hikes fully knowing the government is gonna give them free money.
Yeah I think that I think everybody knows which way tuition prices are headed that's not been a secret for a long time and I do think that it's important that.
We recognize that as we put together our plans and the -- -- that time is here is your friend here and the longer you have to plan for this the more flexible you can make your plans you're closer there.
Yeah unfortunately though many people are saving for retirement as well you know taking care of aging parents is very difficult to determine where the money should go.
You there are 529 savings plans out there for college you recommend people use them.
I do I think that I'm.
Starting early in putting money away is a good thing and as long as you're gonna do that you may as -- take advantage of the vehicles that are set aside for that purpose he -- in tax benefits.
Listen gift and estate tax benefits potentially as well also yeah I just I definitely encourage things conflict five point nine plans to be used.
Yeah Lanny I think it and it's something that needs to be discussed because there's a trillion dollars in student debt loan debt out there we -- interest rates potentially going up on July 1 of these loans.
Known as -- these kids out and I do think that the universities are partially to blame Ryan Franklin thanks for your thoughts on all that.
Thanks for --