Where to find FREE Education planning software?
You can search the web for many tools.
But, there is one that is FREE and is in Microsoft Excel format. You can customize the Spreadsheet to your liking. No Password, No file protection. You can add, delete, modify, change color, etc.
It allows you to set your child age, year to go to college/university. You set your own inflation rate and Rate of Return.
Do try out different combinations of different rates.
Set the BEST case scenario with higher returns and lower inflation. Set another calculation with WORST case scenario with lower returns and higher inflation.
Set the EXPECTED case scenario with numbers between the BEST and WORST case.
Note that Education Expenses are very short period. Meaning, you save for many years and have to spend all within 3 to 4 years. So the money during the education years are to be placed into less volatile investments. It is better to put into a Fixed Deposit account, Money Market fund or Bond fund to preserve the capital.
You do not want to risk the money by putting into the Stock Market or Equity funds during your child is in the College or University years.
You can download the Excel file from this link:
https://seanexcel.weebly.com/blog/invest-expenses-for-education-plan
More explanations on about this Excel file from this link:
https://highlevelrules.blogspot.com/2017/09/invest-expenses-for-education-plan.html
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