The FIRE Family’s Guide to Paying for College (With Huge Tax Savings) | Bigger Pockets Video
Episode #639
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Paying for college is one of the biggest financial hurdles families face—even as you’re chasing or approaching FIRE. What’s the smartest way to save for higher education while also securing your financial future? Scott, Mindy, and Amberly are breaking it all down on today’s episode!
Welcome back to the “BiggerPockets Money” podcast! There are several ways to fund your child’s education, and if you’re actively building wealth, you likely have even more options at your disposal. We’ll show you how to find “free” money through government grants and scholarships, but since these could be off the table for those who are pursuing financial independence, we’ll also compare popular college savings accounts—like the 529 college savings plan and UTMA (Uniform Transfer to Minors Act) account. If you want to limit your tax liability, one option reigns supreme!
We know this is a personal decision, and you shouldn’t be guilted into one direction or the other. Whether you’re saving for your own children, your grandkids, or just curious about how to balance college tuition costs with FIRE goals, we’ll equip you with a practical roadmap for funding education on your own terms—one that keeps you on track to retire early!
00:00: Intro
01:29: Sponsor: Baselane!
02:18: Disclaimer
02:40: 3 Ways to Fund College
09:15: Full vs. Partial College Funds
14:23: How to Build Your Fund
19:25: 529 Investment Strategies
27:50 Mindy’s College “Problem”
38:25: Amberly’s College Fund
45:01: Set Up Your 529!
