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OFFICES

Educational Consultants
1001 Ogden Ave.
Suite 204
Downers Grove, IL

630.853.4195

Financial Consultants
1717 North Naper Blvd
Suite 200
Naperville, IL

630.470.6880

We gladly use video conferencing for clients who are unable to meet in person.

Bob Proctor, Financial Team

This author has written 3 articles

Why Mutual Funds are the Worst Way to Save for College

Saving for college in mutual funds that are not sheltered within a 529 or other non-assessable account can have a huge impact on your Expected Family Contribution (EFC). Mutual Funds Create a Double Assessment Mutual funds are not only assessed as an asset at 5.6% to determine your EFC but the internal capital gains, dividends, and interest income are also assessed as income at 47%--a much higher rate than the asset assessment! It’s the latter assessment, of course, that can really do serious damage to your…

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Use Caution Before Using Insurance or Annuities to Reduce EFC

There are a lot of financial advisors out there who are anxious to sell you insurance, annuities, 529s or other financial products in the name of helping you lower your college costs. The advice I always give people is to do their homework before they act on any advisor’s recommendations. Not doing your homework can actually end up costing you much more, not much less for college. Annuities are usually not a good strategy for middle-income families to reduce college costs Last year a client came…

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Meet Bob Proctor

Bob is the owner of Shamrock Financial Planning located in Naperville, IL. Shamrock offers comprehensive financial planning along with securities and advisory services. He is a Certified Financial Planner (CFP) and a Chartered Financial Consultant (ChFC) with over 25 years in the financial services business. Bob is a member of numerous industry organizations and has served on numerous Boards of Directors, including the Chicago Lighthouse for the Blind and Visually Impaired. Bob has been an attender, teacher (grades 3 through…

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