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Taking Stock: Parents should save for retirement, not children's college
Malcolm Berko: It's a daunting task to invest for a child's college costs. You have a 12-year time frame until the kids are college ready, which isn't enough time for the magic of compounding to work.
Read more: http://newsok.com/taking-stock-parents-should-save-for-retirement-not-childrens-college/article/3678722#ixzz1wxHUrP44
It makes sense, since there are not loans to help you retire, but there are loans for college. I don't agree with his negative view of college degrees, I don't disagree that you can make a living without one, but it's always going to be helpful to have a degree (in my opinion.)
Some degrees are more likely to help the student be a good employee than others.
With the astoundingly high costs of college these days I can understand what he's saying...
And I also agree that a person does not HAVE to go to college to make a living... I didn't and I'm making a comfortable living...
However... I didn't really start making that comfortable living until much later in life than I would have liked... And while I did not get a college degree, I did get a rather extensive technical education in the military...
Not everyone can - or should - join the military of course, it is not for everyone... And even there the lack of a college degree held me back...
So basically what he's saying is that a typical (non-wealthy) parent has two choices, either place their child in a financial crunch early in life, or put them inone later by having to support their elderly parents who could not prepare enough for 'the golden years'...
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