In the middle years, save for retirement before you pay tuition

Also, and I really want to emphasize this point: the PERFECT time to save for your retirement is BEFORE you have kids. Most younger workers put off saving for retirement in their early post-grad years, then the kids come and they don’t find the right time to save until 22 years later.

Today, individually insured middle class families spend about 15.5 percent of their income on health care – not counting what.

He or she could even go to community college for two years and then transfer to a four-year school to save money. You may not have the same alternatives available for retirement. You will likely have social security benefits. You may have a pension, rental income or some other source of cash flow. But a substantial amount of your expenses may have to be covered with savings. There are no scholarships or loans available if you fall short. Best of Both Worlds. You can also save for both goals.

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The steps for saving – whether it’s for college tuition or someone to change your colostomy bag in 60 years – are the same. The amount you need to be saving is staggering. So you either start selling meth to the cartel now, or use Benke’s financial wisdom to put yourself in the best position possible.

Owning a home without a mortgage can improve your cash flow in retirement. Owning a home can lead to a comfortable retirement. In theory, you buy a house when you’re 30, faithfully make the mortgage payments for 30 years and at age 60 you own your house, free and clear.

But, we see people in the industry that are actively planning to use retirement savings to help pay for college. If you are in this camp, you should strongly consider allocating some funds to a.

6) Your university is running a special offer on tuition. This year’s tuition cost is $18,000. Next year’s tuition cost is scheduled to be $19,080. The university offers to discount next year’s tuition at a rate of 6% if you agree to pay both years’ tuition in full today. How much is the total tuition bill today if you take the offer? A) $18,000

This prepaid tuition program allows you to lock in tuition prices at their current rates, so your child can redeem benefits in the future regardless of rising tuition costs. This option offers the flexibility of choosing your tuition plan and payment option. You can choose a plan that covers anywhere from one year at a Maryland college to four years.

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