Well, I agree with it because that's been my thinking since before my kids were born. And now with four kids - how in the world can we save enough for all of them to go to college on us? Our retirement is first and foremost and hopefully when the time comes, we'll be able to help out our kids with college. If not, there are scholarships, loans and grants out there to help them. But nothing is out there to help with our retirement - the way it's looking now, we'll not even have social security by then.
Our retirement is first and foremost and hopefully when the time comes, we'll be able to help out our kids with college. If not, there are scholarships, loans and grants out there to help them. But nothing is out there to help with our retirement - the way it's looking now, we'll not even have social security by then.
I think people REALLY need to put their retirement first. Many don't because they feel selfish, that they are somehow slighting their kids. In reality your kids would have to support you in old age (or make some tough decisions) if you can't do it yourself. Kids always have the option of putting themselves through college via loans, working, etc. You can't do that for retirement. We have a plan for college, but our retirement is a bigger priority.
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IMHO, I had to pay for collegeo I think if they really want to go they should. I have seen too many people who don't appreciate it as much when it is paid for. I do have two friends who do and did appreciate it. One's dad is a lawyer and the other worked at GM. Anyway not every child feels a need to go to college. Although I believe education is important and will encourage my child to pursue their dreams. Education doesn't necessarily define a person's success. I know of people who are quite successful without a college degree and some with who can't find jobs. It all on your attitude and perspection on life.
I agree retirement should come first. I have a TIAA/CREF acount for that, and for my girls I have a Upromise account and 529 plans. They will still need loans, but I want to help with what I can.
I feel the same way. I would rather save for my retirement than leave my children the burden of taking care of me financially when I am old. There are plenty of avenues for paying for college....loans, grants, scholarships, etc.
I feel the same way. I would rather save for my retirement than leave my children the burden of taking care of me financially when I am old. There are plenty of avenues for paying for college....loans, grants, scholarships, etc.
Yep, dh is hoping for basketball scholarships (my oldest is very tall for her age). I got a scholarship because I was a volunteer at a hospital while I was in high school. They can also save money by starting out at a 2 year community college, and transferring to a 4 year if need be.
I would love to be able to pay for my dd's college education. But the fact is that may not be possible. My priority is definitely retirement for me and dh. I put myself through college with student loans and working while in school so its definitely possible.
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i would like to have maybe a couple thousand saved up in a bank account for my dd when she goes to college. then i can give it to her for books or dorm expenses. i have seen a lot of kids whose parents pay for college and they're slackers. it feels a lot different when the money comes out of your own pockets- you're less inclined to blow off class.
We were originally putting a lot of money into college savings. After more research we realized we would be somewhat punished for having the money saved. We have $50 a month deposited into a 529 to get them started. We plan to get a student loan and help them pay for it. I will be going back to work and we will have more income.
Saving for College? Yay or Nay?
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I think people REALLY need to put their retirement first. Many don't because they feel selfish, that they are somehow slighting their kids. In reality your kids would have to support you in old age (or make some tough decisions) if you can't do it yourself. Kids always have the option of putting themselves through college via loans, working, etc. You can't do that for retirement. We have a plan for college, but our retirement is a bigger priority.
(my oldest is very tall for her age). I got a scholarship because I was a volunteer at a hospital while I was in high school. They can also save money by starting out at a 2 year community college, and transferring to a 4 year if need be.
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