Back-to-School Feels Like New Year’s Day?

Happy New Year!... I mean back-to-school!  My wife said to me the day before our 3 boys started school that she was going to get the house organized, “purge” old toys and be better about spending money.  The interesting part about that statement was that she wasn’t the first person that day to mention to me that she wanted to get more organized and start fresh.  Earlier at our town pool I was watching my 5-year-old who still doesn’t swim very well in the shallow end and my friend mentioned she had almost the same exact goals, after we had discussed how quick the summer was and we were sad that it was coming to an end.

The more I’ve talked with families that have younger children the more I realized this was the same for most of them.  Since everyone is in that New Year’s mood, I suggest adding another to do on that list.  New Year’s is my busiest time of year, the second most popular New Year’s resolution next to losing weight is getting your personal finances straightened out.  Since the kids are back in school, now would be a good time to look at the cost of higher education.  Paying for college can feel like a daunting task, some people are afraid to even look at how much it could cost because they fear the inevitable.

What makes saving for higher education easier is starting to save today, not tomorrow, not next week, not next year, but today.  What a better time to start saving for education than when the kids are starting their new school year.  Your kids are another year closer to moving out of the house and moving into a dorm room.  What does that look like to you?  Do you want to pay for 100% of any school your children want to go to?  Would you like them to pay for some on their own, so they feel vested in their education?  Have you and your significant other even talked about what you would like to pay for?  Often each spouse has a different idea of what that looks like.  The answers are different for everyone and the investment landscape around education plans are constantly evolving. Options around 529 college savings plans are changing and options are various. This approach and many others should all be considered and what better time to start thinking about those options than now?

The best thing you can do is start today and don’t wait, if you are looking for some help on the available investment choices and their benefits we are here to give you guidance and support moving forward.


- Nathan O'Loughlin, Managing Partner, Lignum Wealth Management


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A native New Englander, Nathan O’Loughlin grew up in Dunstable, Massachusetts. Sticking close to his roots, Nathan pursued his higher education at Northeastern University in Boston, Massachusetts, where he graduated with a dual major in finance and entrepreneurship. This experience can be considered the genesis of Nathan’s current role as founder and managing partner of Lignum Wealth Management in Wakefield, Massachusetts. Today, Nathan applies his 16 years of experience focusing mainly on retirement income planning and business planning.


Lignum Wealth Management is a financial advisor located at 500 Edgewater Dr, Suite 511A, Wakefield, MA 01880. Lignum Wealth Management offers securities and advisory services as an Investment Adviser Representative of Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Lignum Wealth Management can be reached at (781) 334-8100 or at [email protected].