Hudson Valley Parent

HVP October 2016

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hvparent.com n Hudson Valley Parent 11 Also realize that you may not be able to do it all as far as saving for college goes – nor do you have to. According to The College Board, 40 percent of students in four- year schools contribute less than $4,000 towards college costs while almost 70 percent pay less than $8,000. Much of the balance is paid via financial aid, grants, or by the students working between or after classes. Also, $75 billion in grants and loans is awarded annually the U.S. Department of Education says. The bigger picture For some families, college and retirement can come around at the same time. If that is your reality, you can invest in a general investment pool which can be used to help pay for each goal as needed. Horodyski reiterates that it's important to examine your 401K and employer-funded options as well as using Individual Retirement Ac- counts (IRAs) funded through your regular financial institution. "Before you start talking about a retirement plan, set the budget," he says. "Figure out where you are first. Getting that entire picture will help you execute both the retirement plan and college saving plan." Seeking assistance If you know that there are things (Continued on Page 12) "Figure out where you are f irst. Getting that entire picture will help you execute both the retirement plan and college saving plan." MICHAEL HORODYSKI President & CEO of Wallkill Valley Federal Savings & Loan Evan Hershkowitz, DDS, MPH 1001 Route 376 • Wappingers Falls, NY 12590 www.sevenseaspd.com We'll make your child's dental visit playful, fun, & stress-free! • Specialize in infants through adolescents and children with special needs • General anesthesia available in our fully-equipped suites • State-of-the-art facility offering the latest technology Ahoy, Matey! Come Sail the Seven Seas with a Smile!

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