ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 17: Wait… I Need to Save THAT Much For My Child’s Education?!

Kids are expensive. We hear that all the time. What comes to mind are things like food, clothing, maybe even a first car at 16. The reality is: all of that pales in comparison to the cost of education. It’s sticker shock every time we go over the numbers with clients. 

If there is anybody that understands the cost and value of education, it’s you. So in this episode, we discuss saving for college. When to start, to what accounts, how much you will reasonably need to save per month, and everything in between. We also focus on finding the balance between saving for college and your retirement.

Topics Discussed:
  • What service has deflated in price over time.
  • Which accounts you should use to save for your child’s tuition.
  • What consumer good or service has increased the most in recent years.
  • How much an average tuition costs.
  • What you should save to send your children to school.
  • How to balance saving for retirement and education for your children.

Resources Mentioned:  


ER Doctor, Financial Advisor, retirement, retirement savings, retirement accounts