Educational attainment is a bedrock of the American Dream.
We want our kids to do better than us, and we'll do what we can to help them achieve that! But unfortunately, there are dreams, and then there's reality: college costs have exploded over the last twenty years. As a result, most parents and some grandparents find themselves fighting a battle on two fronts: saving for retirement and college at the same time.
You might be eyeing your individual retirement account (IRA) for help. Is it worth tapping your IRA to help pay for college? Let's talk about it!
One of your best bets is to plan carefully for college as soon as possible for your children or grandchildren so you're not forced to decide between retirement or college. No matter what you decide, seeking input from your financial professional is usually wise. So give me a call at (804) 665-1589, and let's discuss your unique situation.
I'm a father of four myself and passionate about helping people plan for the future.
Should You Use Your Retirement to Pay for College?
June 15, 2023