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Are You Ready for Back to School?

Your Second Growth Newsletter
August 2018

Cypress Wealth Services

August is when most kids and young adults head back to school. While we know most of our clients are retired or nearing retirement, many of them have kids or grandkids still managing their way through school. In the spirit of back to school, we thought this would be a great time to discuss education planning. At Cypress Wealth Services, we pride ourselves on helping you thrive in your First and Second Growth phases of life. Educating you on topics that may affect you or your family’s life is part of the process. In this month’s Your Second Growth Newsletter, we discuss planning ideas that will help you address the cost of higher education.

Where Do You Start?

With the cost of college soaring, thinking about how you will pay for college may feel like a daunting task. Our best advice is to start planning sooner rather than later. The greatest advantage you have is time, and even saving a small monthly amount can make a big difference. We suggest you start by understanding what your college costs may look like and set savings goals based on your means. Then understand your savings vehicle options, pick one, and start saving. We have attached an interactive guide from Fidelity that outlines this process. It educates you on the four most commonly used savings accounts, the pros and cons of each, and even discusses their impact on financial aid. If you don’t know where to start, this guide is a great place. Click here to view the guide.

Understanding Financial Aid

At today's prices, even families who have been contributing to a dedicated college savings fund for many years may discover that their savings will cover only a portion of their child's expected college expenses, so it's wise to start exploring your financial aid options well in advance. Financial aid generally comes in two forms: need-based and merit-based aid. Understanding qualification requirements, as well as loan interest rates and when payback begins, are details you will need to understand. To simplify your exploration, we’ve provided three great resources to help enhance your understanding.

  1. Making the Most of Your Opportunities for Financial Aid- Get familiar with the different types of financial aid you might be eligible for. Click here.
  2. A Guide to Student Loans- The more you save, the less you have to borrow. Here are tips for parents and students. Click here.
  3. Federal Student Aid- Need to apply for Federal Aid? You do it here. Click here.

We Want to Help

Helping you navigate your financial life is our commitment to you. If planning for a loved one’s higher education is a priority, we want to help. Our goal is to educate you on your options and build a plan that allows you to be excited and confident about this important time in their lives.

If you have any questions, please call us at 760.834.7250 or visit us at 


***A reminder that we have moved to a new office. We are located at 74150 Country Club Drive, Palm Desert, CA 92260***