Many parents feel saving for their kids’ college costs is just as important as saving for their own retirement. It’s an understandable but potentially dangerous mindset. Yes, the cost of college is rising, but it will always be just a fraction of the overall cost of retirement. And even if your child’s college education ends up costing in the six figures, there’s a good chance that your family won’t have to pay all of it out of pocket. Federal, state, and private grants, loans, and scholarships can all help significantly. Bear in mind that there are no grants, loans, or scholarships for retirement. You can always plan to help your children with college costs—but make retirement savings your top priority. Please reach out if you’d like to discuss this topic further. And please do pass along the email addresses of anyone you feel would benefit from these short, educational emails. |
What’s Your Savings Plan: College or Retirement?
