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Funding Higher Education is not priority over your Retirement

Funding higher education for children is a goal shared by many Americans. But unless your children ARE your retirement plan, funding your own retirement must take priority. While you can't borrow to retire, your children have many means to funding their higher education:

  • Scholarships
  • Grants
  • Military service
  • Employer-paid benefit
  • Work
  • Loans (We don't like debt…   How can someone who has never earned real money know anything about repaying it?   But you can't borrow to retire…)

Furthermore, children must make wise decisions regarding their choice of education. We believe in education… but not at ANY price. You don't need to go to Harvard to be a great teacher. It is okay to knock out the general courses at a community college. What can a graduate expect to earn with his or her chosen degree? A student must derive value for tuition dollars spent.

Besides paying for higher education, there are many things you can do to help your children get a secure start in life.

  • You can let them return home until they have built an adequate Emergency Fund
  • You can help them repay student loans (especially if they got good grades)
  • You may be able to provide childcare for their children—this cost often overwhelms young families

<NEXT: How to best fund Higher Education>

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