Retirement Or College Funding? What To Do Now

For millions of American families, one of the most vexing financial questions is: Should I save for retirement or fund college? Can we do both?

The question is not an easy one, because of course, you need to do both. Yet the right answer is often a simple one when you consider the financial liability of choosing one over the other.

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Damian J. Sylvia

Retirement Income Solutions 

220 Monmouth Road

Oakhurst, NJ 07755

How to Pay School Loans and Save for Retirement at the Same Time

The best time to start saving for retirement is as soon as possible. By saving in your early 20s, you give your nest egg extra time to grow, potentially shaving years off how long you need to work.

But before setting aside money for retirement, most feel the need to retire student loan debt. That’s easy to say but harder to do for millennials exiting college these days. Many are in the same boat as Nolan Grace, a 24-year-old who graduated from Purdue University with “very significant” loans. “It’s the biggest weight on my life right now,” he says.

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Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755