Education Funding or Retirement Funding?
A lot of parents feel there is no better investment than well-educated children. And to some extent they have a bit of a point. However, most adult children say the best investment their parents could have made is whatever it would take for them not have to share housing when their parents are old.
There are MYRIAD sources of funds for college education: State / academic/ athletic / program-specific scholarships, part-time work, loans, stipends, employer assistance, college-specific, private, corporate, religious, military, federal aid, etc., to name a few.
However, absent an inheritance, there is only ONE source of funds for retirement – U KNOW WHO. And, while for example, as one Chief of Staff with three children in Medical Schoo l put it, “One parent can support three children; but three children cannot support one parent.”