Which is more important to save for: my child's college fund or a retirement nest egg?
Financial expert Jane Chatzky tackles the challenging dilemna of whether to save for a college fund or your retirement and gives us insight and information of where to invest.
Transcript
College versus retirement is a loaded question.
And here's why. There is no financial aid for retirement. You can't borrow for your retirement.
There is financial aid for college. You can borrow for college. And that's why you hear financial experts like me
telling you you've got to put your retirement before college. But here's what I know as a parent.
Many people don't listen to that advice. And so if you want to do both at the same time,
the best thing that you can do for yourself is put some money into a Roth IRA. A Roth IRA is a retirement account.
But it's a retirement account that's flexible enough to allow you to pull the money out without penalty and use it to pay for a college education.
So you can save now knowing that you're doing it for either college or retirement and make the decision
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