Retirement or Kids College? Pick One.

Many parents, from day their children are born, worry about how they are going to pay for their children’s college. Money is usually set aside, but sometimes it’s not enough. Parents today are even putting retirement money away for their kids’ college years. Marty Allenbaugh says that route may not be as uncommon as you think:

“Delaying retirement to help fund college is a realistic option, as long as retirement needs aren’t being ignored. We feel that delaying retirement is a personal decision that an investor can decide to make. We feel more concern if they stop contributing for their retirement. We recommend that parents continue with retirement savings and make sure that is on track before they save for college.” -Marty Allenbaugh

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Matt talks with Marty Allenbaugh, a financial senior marketer and a certified financial planner for T-Rowe Price Group. The total outstanding student loan debt in the U.S. is $1.2 trillion, which is the second-highest level of consumer debt behind only mortgages. Most of that is loans held by the federal government. About 40 million Americans hold student loans and about 70% of bachelor’s degree recipient’s graduate with debt. With these numbers only seeming to increase and tuition rates continuing to rise, it seems there are very few ways left to pay for a college degree. Marty Allenbaugh explains how parents and kids can make choices now to pay for future college plans.

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The “PATH” To Your Purposeful Retirement

The “PATH” To Your Purposeful Retirement

The goal of a healthy retirement is a dream for us all. Sadly the reality is usually more hit than miss. The goal of a beautiful mountain hike is only a dream until we find the path and take every step along the trail. The same is true of our retirement. Sure we’d love the beautiful vistas, and social journey with friends, however none of it matters if we never planned it, invited the right people, and orchestrated the activities. Retirement is a hike and finding the PATH is the key to finding the Utopia we’re all looking for. Here are essential steps that make up the PATH to Your Purposeful Retirement.

Purpose & Passion

Activities & Accomplishment

Team & Togetherness      

Health & Happiness

Remember that in retirement, just like in regular life, we are all different. Join me on November 7th for a super fun Date Night all about the Differences that might irritate us, and learn how to make those Differences something to celebrate!

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