Comments on: Save for College or Retirement? http://www.fivecentnickel.com/2006/10/04/save-for-college-or-retirement/ personal finance tips, tricks, and commentary Sun, 22 Nov 2009 04:49:32 -0500 http://wordpress.org/?v=abc hourly 1 By: Furby http://www.fivecentnickel.com/2006/10/04/save-for-college-or-retirement/comment-page-1/#comment-115967 Furby Mon, 17 Mar 2008 13:53:03 +0000 http://www.fivecentnickel.com/2006/10/04/save-for-college-or-retirement/#comment-115967 I'm not someone who refuses to help their kids through college, but neither do I feel obligated to, or think that a college degree is essential. I paid for college with loans and money from the military. Neither of those were bad decisions. And no one truly needs a big-name school. The results of a college education have a lot more to do with the person being educated than with the school doing the educating. I plan to raise kids that don't need to go to college to have successful lives and careers, but who probably will because it interests them. I have a relative who knew he wasn't the college type, so he's worked for UPS since he was 19. As a result he's had about a five year head start on earnings, and as you know that can make a crazy difference. College isn't for everyone, and spending that kind of time and money just because you think you are supposed to is a terrible purchasing decision. That is the best advice I can give on this topic: treat college just like you would treat any other purchase. Including the evaluation of whether or not to purchase it at all. I’m not someone who refuses to help their kids through college, but neither do I feel obligated to, or think that a college degree is essential. I paid for college with loans and money from the military. Neither of those were bad decisions. And no one truly needs a big-name school. The results of a college education have a lot more to do with the person being educated than with the school doing the educating. I plan to raise kids that don’t need to go to college to have successful lives and careers, but who probably will because it interests them.

I have a relative who knew he wasn’t the college type, so he’s worked for UPS since he was 19. As a result he’s had about a five year head start on earnings, and as you know that can make a crazy difference. College isn’t for everyone, and spending that kind of time and money just because you think you are supposed to is a terrible purchasing decision. That is the best advice I can give on this topic: treat college just like you would treat any other purchase. Including the evaluation of whether or not to purchase it at all.

]]> By: Keith Cash http://www.fivecentnickel.com/2006/10/04/save-for-college-or-retirement/comment-page-1/#comment-28072 Keith Cash Mon, 09 Oct 2006 13:00:53 +0000 http://www.fivecentnickel.com/2006/10/04/save-for-college-or-retirement/#comment-28072 Retirement before college, I worked 55 hours a week and still went to college. Working and going to college is not a bad thing. Retirement before college, I worked 55 hours a week and still went to college. Working and going to college is not a bad thing.

]]> By: daytonscott http://www.fivecentnickel.com/2006/10/04/save-for-college-or-retirement/comment-page-1/#comment-27573 daytonscott Wed, 04 Oct 2006 23:36:38 +0000 http://www.fivecentnickel.com/2006/10/04/save-for-college-or-retirement/#comment-27573 We have set a modest goal of saving for one year's tuition at our state university's main campus for each of our children, using prepaid tuition. It will provide a significant leg-up for our kids without dragging us down. Moreover, the plan is flexible; they can spend it at a cheaper school and get more time out of it. We have set a modest goal of saving for one year’s tuition at our state university’s main campus for each of our children, using prepaid tuition. It will provide a significant leg-up for our kids without dragging us down. Moreover, the plan is flexible; they can spend it at a cheaper school and get more time out of it.

]]> By: Norm http://www.fivecentnickel.com/2006/10/04/save-for-college-or-retirement/comment-page-1/#comment-27543 Norm Wed, 04 Oct 2006 18:26:01 +0000 http://www.fivecentnickel.com/2006/10/04/save-for-college-or-retirement/#comment-27543 Pretty much all I can afford to do at the moment is put enough in my 401(k) to hit my employer's match and max out two Roth's (plus saving for a car, finishing the basement and some stuff like that). So, I figure if I have to pay for college for the kiddo, I can pull out of the Roth accounts. And, if I don't, then they're sitting there for retirement. Pretty much all I can afford to do at the moment is put enough in my 401(k) to hit my employer’s match and max out two Roth’s (plus saving for a car, finishing the basement and some stuff like that). So, I figure if I have to pay for college for the kiddo, I can pull out of the Roth accounts. And, if I don’t, then they’re sitting there for retirement.

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