Merrette Moore is a Private Equity professional with over 20 years of experience in the industry. He is the Founder and Managing Partner of Tidewater Equity Partners and believes in making a positive impact within his company and community.
Over the course of his career, Merrette Moore has accumulated a wide range of experience in various aspects of finance. His specialties include commercial banking, investing, portfolio management, and, of course, private equity. Before starting Tidewater Equity Partners, Merrette served as Vice President of NC IDEA where he conducted financial analyses on information technology and companies specializing in life sciences.
First founded in 2016, Tidewater Equity Partners quickly grew under the supervision and leadership of Merrette Moore, as he placed an emphasis on client relationships and attention to detail. Tidewater Equity aims to work alongside the companies in which they invest and provide their expertise to help grow clientele, operations, and overall value.
Merrette Moore strives to make a positive impact every day, both in his work and his personal life. Through his professional efforts, Merrette makes sure each client or investor knows who they are working with to gain an unmatched level of trust not frequently seen elsewhere. By collaborating and investing in companies that share his values of community and partnership, he never compromises his business or values and gets to interact with a wide variety of people by ensuring their businesses succeed.
Outside of work, Merrette Moore is a dedicated father and husband and enjoys spending as much time as he possibly can with his wife and children. Born and raised in North Carolina, he grew up in a typical value-oriented southern family, which is why family is vital to everything in his life. An avid traveler, Merrette and his family take beach trips every year and enjoy exploring new destinations together.
Merrette Moore on How to Plan a College Fund for Your Children
The moment your child is born, the countdown to college begins. Despite the exuberant cost of tuition, earning a college degree is still a major accomplishment, even in a world where many people embrace the entrepreneurship mentality.
With a degree, your child is more likely to find a job with a decent salary. The problem being with such high tuition costs in the USA, figuring out how to cut costs and save for your child’s future can be overwhelming. However, Merrette Moore lists a few ways you can start saving for your child’s education.
The following are a few types of accounts that you can look into when saving for your child’s college fund. Be sure to weigh the pros and cons of each, and consult a financial adviser with any serious questions or concerns.
1. Savings Account
Some people prefer to open a savings account for their child’s college fund. While this is a good idea to start while your child is young, you must also be aware of certain stipulations that come with this option. If your child needs financial aid, there are parental income and asset limitations, which can hinder their approval.
You can give your child a head start financially by opening an IRA in his or her name once they begin to earn income. Children over the age of 18 are in control of the account, however, there are restrictions that prevent investors from withdrawing money that’s penalty-free.
3. 529 Plans
Similar to an IRA, a 529 college savings plan allows parents to invest money into low-cost stock and bond funds. Afterward, you or your child can withdraw the money tax-free for qualifying education expenses.
Get Your Child Involved
Unfortunately, this is not an option for children under the age of 13. However, if you have a 16-year-old who works part-time, they can also chip in money for their college fund. Whether their contribution goes towards weekly expenses or tuition, every little bit helps.
If your child knows what type of degree they want to pursue early on, it can make the process of saving a lot less painful. A four-year degree costs a lot less than five or six years. Regardless, as Merrette Moore suggests, it is best to start saving or thinking about how you are going to save from the moment you plan on having children.