It is more important to securely fund retirement accounts than to save heavily for a child's college education, according to USA Today. This might sound selfish to those who think preparing their kids for the future is a more noble goal. But, in fact, it is wise. While children can take out student loans to pay for college, it is unlikely that parents can finance their way through retirement.
College students have many options to pay for their education and having a fully funded savings account might tempt the family to place less importance on free grants and scholarships that will often require more work up front but don't have to be paid back.
Rick Good spent ten years in the newspaper business, including with The News & Observer (Raleigh, NC) and The Greenville News (Greenville, SC). He co-wrote, with Melinda Coleman, Rutledge to Riley: Governors of South Carolina, 1776–Present (Published by The Greenville News), and is the author of Mind Games Trivia #1 (Amazon). He has recently spent 15 years creating original trivia content through Sounds Good Mobile Entertainment and continues that with his new company, SGME Software. He edits The Smart Reader’s money, real estate, and business coverage.
