Parents want to help their children pay for college, but it might not be as beneficial as saving for retirement. Making kids pay their own way teaches them that money must be earned, and that teaches them about budgeting. Student loans come with low interest rates and generous tax deductions. Some loans might have the option to delay making payments, which is something retirement expenses, such as property taxes, etc. don’t offer. Parents without retirement savings can potentially be a bigger financial burden than student loans. Putting money into retirement now gives that money more time to grow.
Why Retirement Saving Trumps College Tuition (Money)
Related Life Planning Strategies Resources
The G50 is an active stock strategy with a proven process and marketing tools which have helped our advisors gather over $200 million of AUM! Get instant access to our CLIENT READY gift to you which will help you gather AUM immediately!
This white paper is a great handout for your clients of any age! It tackles how retirees can prepare for possible significant out-of-pocket expenses and how to budget for what’s not covered. Download now!