There are more than 44 million people holding on to some piece of the $1.5 student loan debt pie. Future parents and new parents are understandably concerned about their children’s future ability to pay for college tuition, textbooks, room/board and all the other jaw-dropping expenses required to obtain a college degree nowadays. However, a new financial concern is looming on the horizon, and that's approaching retirement age with no savings. By the time you retire, perhaps your mortgage will finally be paid off and you won’t have any … [Read more...] about Should You Create a College Fund or Focus on Your Own Retirement?
When you’re preparing to have a baby, long-term considerations like paying for college tuition seem relatively unimportant compared to more immediate concerns. Instead, you're likely thinking about nursery room furniture, diapers, formula, and childcare.
However, the earlier you begin saving for the future, the better off your child will be in their teens and twenties. Here are investments new parents should make...
Top 4 Investments New Parent Should Make
529 College Savings Plan
There are two types of 529 plans, prepaid tuition … [Read more...] about
The following is a guest post by Irina Vasilescu from the blog, Don't Pay Full, about which is better a public or private college. If you'd like to guest post on Money Q&A, check out our guest posting guidelines.
On the surface, it seems like a simple question to answer. Which is better a public or private college? Which is a better investment? Surely, private colleges are cheaper, get you into less student debt, and you still get to graduate and earn the money back. But the real answer to this question is a whole lot more complex than … [Read more...] about
Retirement planning is one of the most important aspects of adulthood. If you don’t save for retirement as early as possible, then you risk not being able to retire from your job at all due. For single parents, planning for retirement might seem even more daunting because you’re playing the role of breadwinner and care provider for your family while trying to plan for your own future all at the same time. It can be exhausting trying to make enough money to meet your family’s needs, let alone have leftover money to put into … [Read more...] about A Single Parent’s Guide to Saving for Retirement
If you’re wondering whether there is still adequate time to invest in a college savings fund for your kid(s), you should go ahead and make the leap anyway. You don't want to rely just on student loans to fund their education. You can invest with a robo-advisor or go through a traditional college savings plan broker, depending on your family’s college savings goals. How to Save for College While Your Kid is in High School Start Investing in a 529 College Savings Plan One of the most important things a parent can do while saving up for … [Read more...] about How to Save for College While Your Kid is in High School
The following is a guest post from Douglas Boneparth and Heather Boneparth, the authors of The Millennial Money Fix. If you'd like to guest post on Money Q&A, be sure to check out our guest post guidelines.
Ultimately, understanding the return on your college investment isn’t as easy as plugging numbers into an equation. After all, the college experience is much more than just what you learn in the classroom and what job you land after school. Yet, some basic math can actually teach us if choosing a certain school is a good or bad … [Read more...] about