Skip to content

Thinking about saving up some money so the kiddos can go to college? That’s great! But, be sure not to skip step #11, investing in retirement!

Why?

If you polled 100 middle-aged people and gave them the option of:

  1. Getting their college costs paid for when they were a kid, but needing to pay for and house their aging parents, OR
  2. Getting no money for college, but their parents are financially stable and in no need of help today…

…I’m thinking the majority would rather their parents have saved up for retirement, and spared their kids the burden of taking care of them later in life.

So, once again, be sure to save appropriately for retirement, and THEN take this step!

So how do you save up for your kids’ college?

We’re currently doing it through our state’s 529 plan, which means the growth on our investments is tax free. You’ll have to see what your state offers and if it’s worth investing in, but it’s a solid investment option for most.

If you need to invest another way, then putting money into a regular index fund works too! There will be taxes on the growth of the investment, but it often still beats just saving up cash with no returns!

Want to read more about your options and what you should do? Check out the resources below!

And a HUGE resource, my eBook – The Debt Free Degree

Helpful Resources

Free College Investment Calculator: It Costs More Than You Think

Free College Investment Calculator: It Costs More Than You Think

Do you want to help your child financially with college? My wife and I definitely do, but we had two…
Kid's College or Retirement? What Should You Be Saving For??

Kid's College or Retirement? What Should You Be Saving For??

College is expensive, and retirement seems so far away for many people. So for many families, guess what they do?…
Top 10 Tips for College Students

Top 10 Tips for College Students

Let’s be honest, college students are clueless. They walk around campus as if they are adults and have everything together,…
4 Huge Myths of the College Degree

4 Huge Myths of the College Degree

Do you realize how much hype surrounds the college degree is today? Students are flocking to universities of all kinds…
4 Huge Benefits of Graduating From College With No Debt

4 Huge Benefits of Graduating From College With No Debt

Colleges are ripping us all off. Tuition prices keep going up and our society keeps pushing kids into colleges around…
How to Get Through College Without Debt

How to Get Through College Without Debt

Getting through college without debt used to be an obtainable goal for many students. Now, a student is considered lucky…