Saving for retirement and your kids’ future education are both important, but you should set priorities based on logic, not emotion.
Your kids will be able to choose less expensive schools and may receive grants, scholarships and student loans.
You will have limited options to pay for your retirement. If you can’t work and pay your bills, your kids may have to support you.
Focus on your retirement before your kids’ education. That’s practical, not selfish.
Contribute to your company’s 401(k) and get the full match. You can also open an IRA.
Create a 529 college savings plan for each child. Encourage family members to contribute.
