Someone can reach an ambitious financial goal (such as saving for college education) despite having limited cash flow available to fund the goal. The goal can be accomplished by using a creative saving strategy called a serial payment.
Many clients that I have worked with this year have expressed a strong desire to fund a majority of their children’s college education but currently have limited resources to commit to it today. Instead, they have promising careers in which they expect decent raises in the future or expect their spouse to re-enter the workforce once the children are in school. They have already tightened their belt and understand that a portion of future raises will be diverted to their future goals. This strategy gives them a roadmap for the future.
For more details, read these other posts to learn about the process.