Ross Levin, founder of Accredited Investors in Edina, Minnesota, considered Mr. Keyser’s question. Levin says the Kaiser family is on track with their current plan, which they mostly created themselves, especially for college-aged parents to juggle their own needs with those of their children. Considering the pressure I’m
“I want to highlight how anxiety-inducing is trying to balance the effort of sending kids to college with retirement savings,” Levin said. “It’s not a good plan to jeopardize your financial security.”
Just as Kaiser became aware of the needs of his parents and in-laws, Levin also realized that many people underestimate the assets they would need if they were weakened.
“I recognize with my clients that one of the most financially stressful things is caring for aging parents,” Levin said, encouraging clients to put retirement first. I added that there are their child.
“You can borrow for education, but you can’t borrow for retirement,” he said.
So if the couple can continue to fund their 403(b), Levin says they should and should be happy with their choice. He said the children would guide them to take out student loans. They could always help pay off the loans if they chose.
“They are unnecessarily hard on themselves,” Levin said. This is because a pension will help you achieve a stable source of income. “They are very thoughtful, they have pensions, they have 529 plans, they have personal investments. They are doing everything right. My advice is to really celebrate the choices they make. .”