Episode Overview

Podcast: The Candy Valentino Show
Episode: Your Money Minute: The Smart Way to Save for College
Release Date: August 29, 2025
Host: Candy Valentino

In this episode's "Money Minute" segment for Financial Friday, Candy Valentino breaks down the daunting challenge of saving for college. She shares compelling data, actionable savings milestones, and two crucial strategies for parents—starting a 529 plan early and setting realistic expectations with their children. Drawing on research and her own observations, Candy offers focused, practical advice for families determined to make smart financial moves for higher education without sacrificing their own future stability.

Key Discussion Points & Insights

The Cost Reality of College Savings

• T. Rowe Price Report: Recent findings estimate that parents will need about $105,000 by the time a child turns 18—and that's just to cover half the cost of in-state tuition.
  • Quote [01:18]:

    “Global investment firm T. Rowe Price just released a college savings roadmap and I think it's definitely a reality check we need to address.”

• Broken Down Milestones (Savings recommendations):
  • By age 5: $36,000 saved
  • By age 10: $66,000 saved
  • By age 13: $81,000 saved
  • Quote [01:36]:

    “By the time your child turns 5, they recommend having $36,000 saved—by age 10, $66,000, and by 13, $81,000.”

Overcoming Overwhelm—What Parents Can Do

• Start a 529 Plan Early

  • You can open a 529 college savings plan even before your child is born—in your own name—and later change the beneficiary.
  • The 529's tax-free growth means every dollar is working harder for your child's future.
  • Quote [01:51]:

    “First, consider starting a 529 plan even before you have a baby. You can set this up in your name and then change the beneficiary once they're born. The best part is that money is going to grow tax free, so every dollar you invest now is going to work harder for their future.”

• Set Clear Expectations with Your Children

  • Communicate early about what the family can contribute, and what the child may need to cover themselves.
  • Parents often feel guilty and sacrifice their own financial security for college expenses.
    • Quote [02:11]:

      “Let your kids know what you can help with and what they may need to pay for or cover themselves. I have watched parents drain their savings or delay retirement not necessarily because they had to, but because they felt like they should.”

Building Resilience Through Financial Contribution

• Giving children everything may be counterproductive; making them contribute builds essential perseverance.
  • Quote [02:23]:

    “It is okay to want to help your kids with college, but giving them everything—well, that actually robs them of one thing they need to build on their own: resilience. Once they develop that muscle, they can tackle anything that life throws their way.”

Notable Quotes & Memorable Moments

| Timestamp | Quote | Speaker | |-----------|-------|---------| | 01:18 | “Global investment firm T. Rowe Price just released a college savings roadmap ... definitely a reality check we need to address.” | Candy Valentino | | 01:36 | “By the time your child turns 5, they recommend having $36,000 saved—by age 10, $66,000, and by 13, $81,000.” | Candy Valentino | | 01:51 | “First, consider starting a 529 plan even before you have a baby ... that money is going to grow tax free, so every dollar you invest now is going to work harder for their future.” | Candy Valentino | | 02:11 | “Let your kids know what you can help with and what they may need to pay for or cover themselves. I have watched parents drain their savings or delay retirement... because they felt like they should.” | Candy Valentino | | 02:23 | “...giving them everything—well, that actually robs them of one thing they need to build on their own: resilience.” | Candy Valentino |

Important Timestamps

• 00:56 – Episode Start / Main Content
• 01:18 – College Savings Data & Reality Check
• 01:36 – Milestones for College Savings
• 01:51 – 529 Plan Advice
• 02:11 – Setting Expectations with Kids
• 02:23 – Resilience & The Value of Contribution
• 02:38 – Segment Wrap

Episode Tone & Closing Notes

Candy’s tone throughout is warm, direct, and empowering, blending hard numbers with reassurance. She encourages action while acknowledging the emotional complexities of saving for college and parenting choices.

“That's all for today's Money Minute. I'm Candy Valentino.” [02:38]

This brief but information-packed mini-episode is ideal for busy families seeking actionable strategies, making the daunting prospect of college savings easier to navigate—without neglecting important life lessons along the way.