Graduation Season Is Here-Is Your College Plan Ready?
By: Nazzareno Spurio, CFP®
Download a PDF file of the article here.
There’s something about graduation season in Alexandria. Caps in the air, photos on King Street, families celebrating what’s next.
But after the celebrations, most parents are left with a quieter question:
Are we actually ready for what comes next?
At Pillar Wealth Partners, this season feels personal. Our team has lived it: from Charlotte heading from New Orleans to the University of Virginia, to Nazz growing up right here in Alexandria before attending UVA, to Baden balancing academics and lacrosse at Randolph College, to Cheyenne growing up in Nebraska and attending Doane University.
We even have a teammate, Alex, who grew up in Myrtle Beach and made the same move to UVA. So yes, you could say there’s a slight bias on our team.
Because college planning isn’t just about saving. It’s about having a strategy that works for all four years, without derailing everything else you’re trying to accomplish.
If someone in your family is heading to college soon, here’s where to focus:
1. Know What You’re Really Paying For
Tuition is just the headline number.
Housing, meal plans, travel, books, and day-to-day spending quickly add up and often surprise families.
Most people underestimate the ‘real’ cost by more than they expect. Clarity upfront changes how you plan for everything else.
Start with:
Total annual cost (not just tuition)
Fixed vs. flexible expenses
What will increase each year
2. Understand Where the Money Is Coming From
There’s rarely just one funding source and there shouldn’t be.
Think in layers:
529 plans
Income/cash flow
Investment accounts
Scholarships or grants
3. Have a Withdrawal Strategy
Saving is only half the equation. How you use the money matters just as much.
Which accounts should you draw from first?
How do withdrawals impact taxes?
Are you spreading costs strategically over four years?
4. Revisit Your Investment Allocation
As college gets closer, the strategy should shift.
This isn’t about chasing returns. It’s about preserving what you’ve built.
Reduce volatility
Adjust for a shorter timeline
Prioritize stability
5. Don’t Let College Planning Compete with Everything Else
This is where most families get tripped up.
College, retirement, lifestyle: they’re all happening at the same time.
A strong plan helps you:
Support your child
Stay on track for retirement
Keep flexibility for the unexpected
6. Align Expectations Early
Before the first bill hits, get clear as a family:
What parents will cover
What students are responsible for
How spending will work during school
Conclusion
Graduation marks the end of one chapter, but financially, it’s the beginning of another.
At Pillar Wealth Partners, we believe the best plans are built the same way strong teams are: coordinated, intentional, and designed to support multiple priorities at once.
And while we may have a slight UVA bias, the goal is always the same: helping you build a plan that works no matter where your student is headed.
The team did a college T Shirt day to celebrate the occasion!
Securities and investment advisory services offered through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.LPLE and LPL Financial are not affiliated with Pillar Wealth Partners
