Secret Wherrett

Secret Wherrett

If you have kids who play youth sports, you know how competitive it can be.

I wonder sometimes if we’re wasting a great deal of time and money on it. There are parents who take it so seriously and have stripped away all the fun. To what end?

We try to be realistic with our children. The odds of playing professional sports are so slim, you’d probably have a better chance of working for a team in their business office with a math degree.

Therefore, I didn’t really see the purpose of playing college sports. What’s the point if it’s likely to come to an abrupt halt at graduation?

There’s a huge point that I was overlooking: scholarships. With the soaring cost of college, every little penny can help. That’s especially true for many who haven’t been able to start saving early.

Writer David Crowder talked to older parents who have already put kids through college, or are about to. See his story on page 19.

It’s terrifying. The cost of college for parents today is many times more than it was 20 and even 10 years ago. There’s a real risk that parents or students are going to be in debt for many years after they get their diploma.

There are some things you can do today that are more realistic than a sports scholarship. One of those is to open a 529 plan or an Education Savings Account, ESA. Both options allow you to invest in funds that grow tax-free. See page 16.

It probably won’t pay for four years, but it’s a start.

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