Parental Dilemma: Funding College for Your Kids While Saving for Retirement
May, 7th 2017
In an ideal world, every college student would be equipped with a full ride scholarship or adequate savings to pay for their education, freeing up their parents to focus on retirement savings. But the reality is that for many, the competing goals of saving for retirement and funding college tuition come up faster than planned for – and often simultaneously.
Of course, you want to do everything you can to set your child up for success. But if you focus all your efforts on tuition and end up coming up short on your retirement goals, the reality is that your kid may end up footing a bill either way.
To take a well-rounded look at all the options to consider, we asked Jeff Rose, certified financial planner for his advice on how to meet both challenges simultaneously. Here are a few tactics and resources to help achieve both objectives – and some smart tools and services from College Ave Student Loans to help get you on the right track.