Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays.
Is it possible to save for retirement and your kids’ education at the same time? According to Walter Updegrave, it’s possible, but you really should prioritize instead of trying to do everything at once…
I think most people have enough trouble just saving adequately for their retirement. Throw in college education and it just becomes too overwhelming. Too often the result is that people don’t address either goal adequately, or they get so discouraged that they sometimes give up altogether, figuring it’s hopeless.
That’s why I recommend that people avoid trying to do too much and, instead, adopt a realistic saving plan that focuses on the most important goals first and then moving on to secondary ones.
He then goes on to rank things as follows:
(1) Emergency fund
(2) Stuffing your retirement accounts with as much money as possible
(3) Everything else (including education)
This is pretty sound advice in my book. As they say, you can’t borrow for retirement, so make sure that’s taken care of before you start saving for other things.
- How to Become a Millionaire
- How to Get Out of Debt
- The Best Dollars I've Ever Spent
- How Our Estate Plan is Structured
- How We Paid Our Mortgage In Less than 10 Years
- Money Making Ideas
- How to Manage Your Asset Allocation with Multiple Accounts
- Consumption Smoothing - Save While the Saving's Good
- How to Save on Groceries
- How Much Life Insurance Do You Need?
- Eleven Great Books About Money
- Dave Ramsey is Bad at Math (693)
- Dish Network Customer Service SUCKS (537)
- $8,000 Homebuyer Tax Credit (429)
- Pay Off Mortgage Early or Invest? (424)
- How to Claim the First-Time Homebuyer Tax Credit (352)
- Termite Control: Sentricon vs. Termidor (330)
- How Much Should You Pay a Babysitter? (292)
- Ethanol Blended Gas = Lower Mileage? (273)
- Reduced Credit Limits? Share Your Experience (256)
- $15,000 Homebuyer Tax Credit (242)
- Buying Furniture off the Back of a Truck (237)
- Will Mac OS X Lion Kill Quicken 2007? (191)