Quote:
Originally Posted by julieisafemme
I do though as a parent believe that my number one priority is to take care of my own retirement so that my daughter won't have to.
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This is another topic I have been reading a bit about in the financial magazines. As stepfordfemme noted, the cost of college is ridiculously high now. Historically, parents (for those that were able), typically tried to save for both retirement and pay for their children's education costs. With the crazy high costs of education (and the 2008 stock market drop where many lost half their retirement savings), this is no longer possible.
The question is, would your child prefer you pay for their college and then move in with them when you retire? Or would they prefer you cover your retirement and not live with them during retirement?
Right now the trend is towards parents putting every dime into paying for their children's college and not funding their retirement. The economy/advice experts are suggesting that parents fund their retirement first and then give to the kids what they can for college.