Would you save money for retirement or for your kids' future college expenses?
By clorissa123
@clorissa123 (4926)
United States
May 30, 2009 10:25am CST
So, many of us might affirmly to say that we should save the money for our kid's future. Education is more important, and we could sacrifice our retirement or whatever available for their great future.
But don't forget, the most important thing for parents is to provided safe environment, and giving good guidance and discipline. But for college, there are grants, work-study, regular jobs, scholarships, loans, reducing your educational costs by going into public service or the military, going the community college route, etc...........
But for retirement, there is absolutely no scholarship for it.
1 person likes this
3 responses
@shikaymaru (700)
• Malaysia
30 May 09
I would rather save for my retirement. I know education is important but being independent also should put in priority.
I manage to finished my study using loan and I'm paying them back myself after I got a job. There are no problem to that. I don't like burdening my parent. It's enough for them to brought me up to this world.
I am still single and do not have children, but if I do, I rather let them learn about the cost of living and being independent besides education.
1 person likes this
@maezee (41985)
• United States
30 May 09
I think you can simultaneously save for both. You do make a good point, though, that you can't get scholarships or financial aid for retirement (how awesome would that be, though?). I would definitely save for my kids' college funds. Me & my older sister started a college savings plan for my little (seven-year-old) sister, and so far we only have $400 in it - but hey! it's a start. And every little bit counts.
The only problem is that kids grow up so fast! You look one minute & they're 7, and the next thing you know - they're 18. That leaves you only 18 years to save up for their college education!
1 person likes this
