Paying for College without Compromising Your Retirement
Are you worried about how paying for college might compromise your retirement?
With the average four-year cost of college approaching $120,000 for one child, many people are concerned about paying for college at the same time they are saving for retirement.
Will you be able to pay for the college education of your child or children and still retire as planned?
Unfortunately, many uninformed parents inefficiently pay for college expenses and as a result they end up spending thousands of dollars more for a college education. Worse yet, they needlessly take thousands of dollars out of their retirement savings to pay for out-of-pocket college costs.
Now you can pay for the college education of your child or children and still retire as planned.
To schedule your College Planning Solutions consultation, call 724.228.3440. One of the most valuable aspects of your comprehensive college funding plan will be strategies that you can implement - based on your particular financial circumstances - to help reduce the cost of college. The savings can be significant – meaning more money can be reallocated for other goals, such as your retirement savings.
Here is an illustration of what can happen if you divert funds from your retirement savings to pay for college:
Lost Retirement Savings
(Assumes 10% Average Annual Return & Four Year College Costs)
| Years Until Retirement | Public (In State) $77,500 | Public (Out of State) $123,600 | Private $156,000 |
| 15 | $323,736 | $516,308 | $651,651 |
| 20 | $521,381 | $831,519 | $1,049,490 |
We can help you solve the college funding/retirement savings dilemma. Regardless of your income, our expertise is intended to help you:
- Reduce the cost of college.
- Reallocate money for other goals, such as your retirement savings.
- Save countless hours by planning to pay for college more efficiently.
- Avoid taking money out of your retirement savings to pay for out-of-pocket costs.
- Increase your retirement contributions even during the college years.
- Avoid incurring excessive debt to pay for college costs.
- Send your
child to the college of his or her dreams.
Return from Paying for College to Saving for College
