The Tuition Dilemma: Paying for College and Retirement
Many parents struggle to save for their own future while paying for their children’s education. It’s a tough call, your future or theirs. The decision doesn’t have to be all or nothing.
In this episode, I talk to Matt Meline about how you can balance saving for retirement while paying college expenses for your kids and how to prepare for life after your kids leave the nest.
Matt is the Founder and CEO of PrairieFire Wealth Planning in Des Moines, Iowa. After an eventful journey of sending his four children to college and becoming an Empty Nester, he authored the book Empty Nest Full Pockets. He hopes to help other parents navigate the challenging transition of getting one’s kids ready to launch while also preparing to become an awesome empty nester! He believes in life-centered financial planning, which focuses on his client’s return on life, not just their return on investment.
Matt and I have a great conversation how the thoughts and concerns many of us face about raising fully functioning adults and what life will be like without your kids under the same roof.
Thank You!
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Tuition Dilemma Episode Details
The challenges of reaching your financial goals and paying for college
How to handle not knowing “the number” you’re saving for
Finding a balance between what your child needs and wants and your financial future
Tips for preparing for college without negatively impacting your retirement
Where you can find money in your current and future budget
What you need to know about financial aid
What to do when you hit knowledge barriers of education funding
How to get the best return on investment from college selection
Advice for handling your children’s objective to paying for college nontraditionally
Resources to calculate the value of your major compared to what you’ll earn
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MilMoneyCon23 is happening April 27-29, 2023, in Nashville, TN. Attending the annual conference gets you connected with the biggest community of military financial planners, coaches, counselors, candidates, and educators. It’s a place to find employment and money-making opportunities, increase earning power, and continue your education.
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These notes may contain links to our affiliate products or services, which means I might get compensation when you click or buy. That said, I’m only going to put affiliate links that are in line with our podcast discussion.
If you want to “kickstart” your finances in the military, you can get access to my free Financial Kickstart Kit here.