Entrepreneurs have a unique challenge when planning for their children’s college educations because they are also starting and scaling their business. Should they start saving monthly in some type of college savings plan? Should they focus on growing their business and use future excess cash flow for education expenses? Or should they do a combination of both?
Given how different one founder’s situation can be from the next, there really is no silver bullet to ensure a child’s education will be paid for in the future. Everyone wants to plan ahead for their kids’ educations, but how they do it should be based on their unique situation and certainly requires some customized planning, updated regularly.