I have to admit that paying for my son's college is a bit scary. Sure, I may have some time before he's ready to start the college tours but thinking that the day will never come is a sure fire way to strattle him with student loans. Being on that road ourselves with a Corvette's worth of loans still outstanding, there's no way that we're going to repeat this with him. So our plan is to let Keller Williams Realty pay for our son's college.
A few month's back, my wife and I were driving along and she tossed out the idea of re-directing our company's profit share money into our son's savings account. For the past five years, our profit share funds have been funnelled into our normal checking account for use in our day-to-day lives. It never was purposed for anything and we never tracked it until tax time. Now, our profit share money has a purpose.
In September, I'm back to paying company dollar and like always, my goal is to cap as quickly as possible. Since my wife is my sponsor, she is the direct benefit of any profit share generated by me. As for me, I've never been one to go out and actively bring people into the company but I have a feeling that's going to change. After all, Harvard is pretty expensive.
Another cool thing about the Keller Williams Realty profit share program is that should we leave for any reason, Micah's college fund will not stop growing. In fact, we have an agent who made $3,000 last year and he works at a competitor company. I'm sure he's laughing his way to the bank every month that we're profitable and the people he brought into the company remain and are productive.
So I'll let you know how it goes and we continue to grow towards Micah's college fund. I may have 17 years to go before he's heading out the door but when that time comes, we hope to be sending him without incurring any additional debt.
Jonathan Osman
Charlotte NC Homes, Charlotte Real Estate
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