On today’s episode, John and Erica talk about college saving strategies for young families with children under age 10. 

College expenses can seem overwhelming for young families who feel like it’s hard enough to save and invest for every day expenses and plan for retirement. 

During the episode, John explains the 529 college savings plan as well as his 3 part framework for tackling college savings. 

The 3 part framework includes:

• Bucket 1)  A 529 College Savings Account
• Bucket 2)  Family money at the time of college
• Bucket 3)  Non-family money at the time of college 

At the end, John shares a hypothetical example of how young families can use this 3 bucket system to better organize and prioritize their educational costs and make their money work as efficiently as possible.