Ask an Ex-Banker: Estimating Monthly Savings to Meet College Costs

Ask an Ex-Banker: Estimating Monthly Savings to Meet College Costs

By The Banker | Ask an Ex-Banker, Blog Posts, Investing, Personal Finance

This “Ask an Ex-Banker” question came from reader Todd R.  In response to earlier posts about the cost of college education, he wanted to calculate the following: “If a family was sending their child to college this fall, AND they were fully able to pay cash (from an educational tax deferred plan) what would their [&hellip

College Costs Op-Ed in New York Times

College Costs Op-Ed in New York Times

By The Banker | Blog Posts, Personal Finance

The New York Times has a great Op-Ed today about the Expected Family Contribution (EFC) calculation, which I recently encouraged all parents with college-bound kids to check out. My main take-away from looking at my own family’s EFC estimate on the College Board site was jaw-dropping because there is Just.No.Way. Where would an ordinary (non-wealthy) [&hellip

The Good Old Days of Filing Income Taxes - 1948 Edition

The Good Old Days of Filing Income Taxes – 1948 Edition

By The Banker | Blog Posts, Personal Finance, Taxes

For Throwback Thursday, the first day of Spring, and just three weeks until income tax returns are due, I offer up this vintage 1948 Federal income tax for 1040. My friend – whose grandfather worked in the steel industry in Youngstown, OH – found his old tax return and thought Bankers Anonymous readers would get [&hellip

One Source of College Costs: Administrators!

One Source of College Costs: Administrators!

By The Banker | Blog Posts

A friend sent me an article this week regarding some of College Advisor Julie’s comments about the rise in college administrators. The article, linked to here, presents the following dramatic assertions: 1. Non-academic administrative positions at Universities have doubled in the last 25 years, without a proportionate increase in students served. 2. During that same [&hellip

Interview Part II: Advisor on Whether College Is Broken

Interview Part II: Advisor on Whether College Is Broken

By The Banker | Audio Posts, Personal Finance, Texas

This is Part II of an interview with Julie, a College Advisor, who talks about whether the old 4-year college model even makes sense. Please also see related posts: Interview Part I – The Rising Cost of College And College Savings and Compound Interest   Michael:    Hi, my name is Mike and I used to [&hellip