In the list of difficult decisions and sacrifices their parents for their children is endless. Send a football or baseball leagues, and then attend a private or public schools, give them a 10 pence. Meters or midnight curfew – The list goes on. One thing that should not be in this column – saved as college or retirement. This sounds harsh, but parents should not sacrifice their children for their own financial security. You should do is find a way to save their children to college education for their own retirement, at the same time. The sooner we solve this problem, the better. Unfortunately, the savings in the list of lower level than other priorities. In the 20 years of age may be concentrated in the payment of student loans and credit card debt. In their 30s are likely to do focused on raising the family and juggling the cost of it remained want to buy a first home, pay for 2 car payments Deng when people reach 40 people and ’50s Youguan energy for the college education of their children and their own retirement.
The problem is here. Late start can be a challenge, but it should not stop you can retire at a reasonable age and send their children to school. Here are five tips you can use at any age! 1) to consider in real terms – how much money most people do not need a specific idea of retirement. Since each person’s financial needs are different, try to imagine the person you want your retirement. If you want to keep their way of life, and now, more travel, most likely due to pay 100% of their working life you pay for living comfort. If you live in a much cheaper a simple life, may acquire 60% of the salary you work in their annual income. If life expectancy is about 80 years retire at age 65, has 15 years of the Fund. Do the math. 2) Early Start – if it’s too late – now! This applies to college students and retirement savings. The earlier start saving your money and more benefits will be a win-win. Do not wait until it easier to save, will never happen. If you think this is not saved, deceive ourselves. Your bank can set automatically assigned to your savings account.
Start a monthly 200. You will not see the money, it is easy not to spend. If you feel comfortable, rather than the monthly 200 yuan, 300 yuan increase in the grant. We tend to adapt to all of us. Have you ever thought how to break a millionaire? 3) see all the options – there are more ways to finance post-secondary education, for retirement there. For example: You might not get loans for retirement, but there are many types of student loans. Scholarships and grants are another great source. Many students think that they will not be eligible. Encourage your child to always apply, because the acceptance is usually above the level and income. Comparison of community colleges, public and private costs. With loans, scholarships and grants, sometimes to choose between schools, the second choice of schools is not entirely different from my ideas. 4) to take control – has started to give up in the employee contribution plans, such as 401 (11 in favor of the pension scheme) s, mainly because of cheap.
Therefore, employees in charge of looking for ways to invest. Do not just follow what their colleagues are doing. Started to study, know how to monitor your company performance consultant to the investment seminar. 5) The responsibility to pass on – before and after your child to college, this is a good idea to give them some financial responsibility. Regardless of liability, so as groceries, books, or that the rent payments, car payments and insurance, big pay small – can be very useful. Time to school and study a large number of employment opportunities. Encourage them to find paid internships, part-time or seasonal work in the school work in the winter and summer. In a lot of time to work is to teach children a good work ethic and make financial decisions in their own ability to have more confidence. You can save money, and college and retirement. The key is to set goals and start now.
