Michael Mullis is a successful financial advisor in Birmingham, Alabama. He serves as a managing partner and wealth manager at Kelley & Mullis Wealth Management, one of Birmingham’s largest independent financial services firms. Michael Mullis offers retirement, income, and college planning services to his clients at the organization. Financial advisors recommend that the best time to start saving for your child's college education is when they are born. Unfortunately, a survey done by Fidelity Investments found that most parents start a college fund for their children when they’re six and a half years old, and 42 percent later regret this decision and wish they had started saving for college earlier. Starting a college fund when your child is born gives the funds you put aside monthly or yearly the opportunity to grow through compound interest significantly. It also ensures you don’t experience financial pressure to save more money for your child's college education as they grow older. According to financial experts, if you start a 529 plan, a state-sponsored college savings plan with tax benefits, your savings can earn approximately a third of the college fee in interest by the time your child is about to join college.

1. When Should Parents Start Saving for College?
Michael Mullis

2. Introduction
Michael Mullis is a successful financial advisor in Birmingham, Alabama. He serves
as a managing partner and wealth manager at Kelley & Mullis Wealth Management,
one of Birmingham’s largest independent financial services firms. Michael Mullis
offers retirement, income, and college planning services to his clients at the
organization.

3. Financial advisors recommend that the best time to start saving for your child's
college education is when they are born. Unfortunately, a survey done by Fidelity
Investments found that most parents start a college fund for their children when
they’re six and a half years old, and 42 percent later regret this decision and wish
they had started saving for college earlier.

4. Starting a college fund when your child is born gives the funds you put aside
monthly or yearly the opportunity to grow through compound interest significantly.
It also ensures you don’t experience financial pressure to save more money for your
child's college education as they grow older. According to financial experts, if you
start a 529 plan, a state-sponsored college savings plan with tax benefits, your
savings can earn approximately a third of the college fee in interest by the time
your child is about to join college.