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MANAGING YOUR SAVINGSSaving for college can be a daunting task, and not everyone has a college savings account for their children in advance. If possible, start by researching your options at least three months prior to paying the initial college costs. Find out how you need to cash out or withdraw money from your college savings account, if you have one. You should also consult your Financial Advisor and tax advisor to see what kinds of tax exemptions you can claim. While it may be tempting to deplete a retirement account in order to make a tuition payment, we strongly advise against it. Wachovia has products that can help you manage your finances so that you can make the most out of what you have for your children now, without adversely affecting what you will have for yourself in the future.
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