Setting Goals For Daughters College

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  • #2048

    How do we go about making sure my child gets the education she deserves and we don’t go bankrupt?

    #2049

    How do we go about making sure my child gets the education she deserves and we don’t go bankrupt?

    #2196

    This is a question a lot of people have, Kelly, so thanks for putting it out there. Here is how we would think about it at SUM180. As a general rule, we say worry about your own retirement before your child’s education because it will help them in the future if you are secure. It’s like on an airplane, put your oxygen mask on before helping others.

    Having said that, giving her the best education possible sounds like it is a big priority for you, like it is for most of us. Not knowing your full circumstances, I think it would be safe to suggest that you go 50/50 on your savings – every dollar saved would go have to your retirement and half to her education. To do it all, you may to get more aggressive with your saving but it will feel great when you are able to meet all of your goals over time. What do you think?

    In any event, good luck and let us know how it is going?

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