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With this tool, you can plan for the education of up
to four children, or multiple stages of one child's education, or a combination. Solve for a different parameter
for each child/stage, if desired.
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Working Area with Graph
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The lower 1/3 of the screen is the Input area, the upper 2/3 is the Results area. See results as you work!
In this case, we solved for the monthly additions for the oldest child, using a conservative
investment return because of the short time span. (The client had some ideas of the anticipated costs, so the
College Cost Calculator was used.)
For the much younger child's Junior College funding, we used the client's
estimate of what they could save monthly, and solved for the needed investment return to meet their target cost. For this child's
subsequent 3 years of college, we again used the client's estimate of what they could save but estimated a longer-term investment return and solved for
the present cost of the college, thus giving the client an idea what sort of college their savings plan might support.
The green calculator icon  next to Current Cost is
the College Cost Calculator,
for calculating the college costs anticipated. In addition to using this form to summarize and calculate the net costs,
you can print a blank form for use as a worksheet with the client. (This form uses current costs, which are then inflated at the rate you select.
Use different annual costs and inflation rates for each child or stage, if desired.)
The yellow calculator icon  next to Invest. Return
is the Weighted Average Return Calculator.
Use this to quickly calculate the weighted average return of existing or proposed multi-investment portfolios. Transfer the number to the input area with a click.
(In addition to printing the results, you can print a blank worksheet for use in assembling the necessary information.)
Use the Selectable Solutions™ feature to Solve specifically for any of the following
for each child/stage:
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- initial savings balance
- additional investments (monthly, quarterly or annually)
- portfolio rate of return (separate for each child/stage)
- affordable college cost based on the savings plan defined
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No more "trial and error" planning. Enter the parameters you have and Solve for what you need!
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© 2004 Concise Financial Planning Software, Inc.
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