College or Retirement? How to Choose When You Care About Both
I recently sat down with a couple—loving, thoughtful parents—who were doing everything they could to prepare their kids for college. They had dreams of fully funding all four years so their children wouldn’t have to take on any debt. But as we looked at their financial picture, something became clear: their own retirement savings had taken a back seat.
They weren’t being irresponsible—quite the opposite. They were trying to do it all. But the tension between wanting to give everything to your kids and making sure you’re secure in the future is real. And it’s something I see in my work often.
One of the questions I hear most often from parents is:
“Should we be saving more for our kids’ college or for our own retirement?”
And I get it. It’s a tough one—especially when you’re trying to be responsible, generous, and forward-thinking all at once.
Here’s what I usually say:
Both goals matter deeply. But the biggest difference is this—your kids can borrow for college. You can’t borrow for retirement.
That doesn’t mean you shouldn’t save for education (a 529 plan can be a beautiful tool). But I always encourage families to build a strong retirement foundation first. Why? Because by doing so, you’re also protecting your children from the financial burden of caring for you later. It’s an act of love—just like helping with tuition.
Sometimes, the kindest thing we can do for our children is to take good care of our own future.
And remember: this doesn’t have to be either/or. With a clear plan and some flexibility, you can often do both—just not always at the same time or in equal measure. I love helping families figure out how to strike that balance in a way that feels grounded and aligned with their values.
With care,
Kerry
CFP®, AIF®, MPH
Meath Wealth Advisors
This material is distributed for informational purposes only. Investment Advisory services offered through Journey Strategic Wealth, an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). The views expressed are for informational purposes only and do not take into account any individual’s personal, financial, or tax considerations. Opinions expressed are subject to change without notice and are not intended as investment advice. Past performance is no guarantee of future results. Please see Journey Strategic Wealth’s Form ADV Part 2A and Form CRS for additional information.
