Budgeting
4 months ago
How much should I save for my kids' college vs my own retirement?
35
We have a 6-year-old and 4-year-old. We're currently saving $3,000/year per kid in 529 plans and $12,000/year in our 401ks (including match). We're 38 and have $250k in retirement savings. Conventional wisdom says 'you can borrow for college but not for retirement.' But I don't want my kids to graduate with crushing debt either. What's a balanced approach? Should we redirect some 529 contributions to retirement if we're behind?
DR
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