52. But Prioritize Saving for Retirement Over Paying for Your Kids’ College
That being said, don’t forget about your own financial future. First and foremost, make sure you’ll have enough money to live comfortably during retirement. Sure, it might be nice to help your kids and grandkids as much as possible, but don’t sabotage your own safety.
If you do, your kids might end up having to help you out so whatever money they would have saved up for themselves will go towards your retirement goals, setting them back. As a parent, we’re sure you wouldn’t want to see that happening!
Furthermore, you won’t be able to take out any loans for your retirement, which is the number one thing you should remember. On the other hand, your kids or their grandkids can take out loans for college.
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