Tuesday

Save For College OR Save For Retirement

Many people are faced with tough choices when allocating their budget.  If you are in a situation, like many, where you are trying to juggle retirement savings or college savings, then your priority should be retirement.

  • No one is going to finance your retirement
  • Junior can always get a student loan
  • Junior may end up with scholarships
Bottom line is that once you have decided to retire, you may realize that you can help junior out by paying off student loans but at minimum, you will be able to make that choice, if you save for college first, then you will not have that choice and many scholarships are based on need and if you have a pile saved for junior, you may have just killed his chances for some free money and your retirement at the same time.