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Follow on Google News | Saving for Retirement and Education: Two Goals, One RoadWhile you may need to make some trade offs along the way, here are some tips to help you reach both goals.
By: Edward Jones Keep in mind that you may need to make some trade-offs along the way. For example, you might need to wait a few years longer to retire. Or perhaps you plan to pay for only the first two years of college. Your financial advisor can look at your entire financial picture and help you set these priorities. Keep moving toward your destination Time is a valuable asset, so keep it on your side. The earlier you start saving for education and retirement, the more likely you are to achieve your goals. And no matter what the road ahead brings, keep investing – if you decide to take a pit stop during a market slump, you could miss the next rally. Your financial advisor can partner with you to develop a strategy that incorporates saving for both education and retirement. The right strategy, tailored to your situation, can help ensure you are moving along toward both goals. Financial checklist: Paying for education • Outline your current financial situation to determine where you are today and how much you can allocate toward education savings. • Discuss potential trade-offs with other goals you may have, such as saving for retirement. • Review the different options for education savings. • Increase the amount you save over time, if possible. End
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