Ultimate Guide to Saving: 55 Ways to Save Money Every Day!

By Our Editorial Team | Published June 24, 2020

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Our editorial team verifies all financial and lifestyle information for accuracy and relevance to senior living.

A senior couple looking at a graduation photo, representing college savings. — Proud grandparents hold a framed graduation portrait, illustrating how early college savings help turn a student’s dreams into reality.

51. Save for College

You should probably save for college even if you don’t plan on going back to school yourself. Adult children may ask for your help sometimes in the future and if you want to help them out without ruining your retirement plans, you should consider opening up a 529 plan.
It’s a tax-advantaged plan that a lot of seniors use in order to be financially prepared for if and when the questions pop up. If your kids aren’t interested or they’ve paid for their own studies, it might still be worth it so that your grandchildren are covered.