Save for kids’ college, or add to the retirement account?
What should be the priority when budgets are tight? Because retirement may be some years away, it may be tempting to put your kids’ education savings on the front burner. But that may be a mistake. For one thing, college students can apply for low-interest loans, work-study programs, and scholarships to help pay for their education. But you cannot realistically expect to borrow funds to pay for your retirement. It may sound cold-hearted to your loved ones, bu you have to consider your future income needs and not derail your retirement plans. Read More »