Saving for Retirement and a Child's Education
and the escalating cost of a college education. How to manage both?
For retirement planning, it's carefully balancing the financial needs of retirement, investing more aggressively and making sure to invest in an employer-sponsored retirement plan. For college planning, it's considering a more affordable public school instead of private and looking into scholarships. To try to do both, you also have to calculate what you can really set aside each month and realize that there are loans for college but none for retirement.
And if the cold hard numbers say you just can't afford to save for retirement and your child's college education? You may have to defer retirement, work part-time or tell your child she or he will have to work through school.
Whatever you do, start now and start with confidence. Get creative!
Read the full report (PDF 525 KB).