Retirement is Top Priority. College Comes Second
Posted by Samantha Martinez on April 4th, 2010
It’s only natural: you want your kids to have it better than you did. So how do you balance paying for college and investing for your retirement? Collective wisdom says retirement is your top priority, if not your only priority. Selfish? Not at all. Look at some of the pros and cons:
Why retirement is your top priority:
- No one but you can fund your retirement.
- No grants, no scholarships, no low-interest loans.
- Run short of funds in your golden years? Your options may be limited: keep working (if health allows), reverse mortgage your home or get help from family.
- 20-plus years of retirement costs more than four years of college.
- Like most investing, the more time you have, the more growth potential and dividend reinvestment you may get.
Why college comes second:
- Your kids can help.