Ann, a mid-40s mother of four with an $85k income, seeks advice on investing for her child’s college tuition. A financial advisor suggests passive index funds for her, prioritizing her own financial stability and retirement over paying for her child’s education. Loans for high-demand degrees may be valuable.

The advisor emphasizes simplicity in investing, recommending index funds to track the market’s performance. Ann should decide on an asset allocation that suits her risk tolerance and consider involving a financial advisor for guidance. Building a diversified portfolio is crucial for long-term financial stability.

A financial advisor offers a free tool to match individuals with vetted advisors who can help achieve financial goals. It’s important to choose an advisor wisely, asking the right questions to ensure trust and reliability in managing finances. Emergency funds should be kept in liquid accounts for unexpected expenses.

SmartAsset offers solutions for financial advisors to grow their businesses through marketing automation. Brandon Renfro, a financial planning columnist, answers reader questions on personal finance and tax topics. Readers can email questions for potential inclusion in future columns.

Read more at Yahoo Finance: With 4 Kids and an $85k Income, What’s the Best Way to Start College Investing?