Loftis: Saving for College Doesn’t Have to be an ‘All or Nothing’ Proposition

It can be a dilemma: saving for retirement versus saving for your child’s education.

Many parents feel a tinge of guilt about putting anything before their child’s future.

“But it doesn’t have to be an ‘all or nothing’ proposition,” said South Carolina Treasurer Curtis Loftis.

In fact, as Loftis and many financial planners will tell you, while it’s important to save for retirement, you can also assign different pots of money, or accounts, to handle different goals.

“And establishing a Future Scholar College Savings Plan is a great way to do that,” he said. “It really is the smart, easy way to save.”

For more tips on how to juggle both retirement and your 529 plan read on:

www.nerdwallet.com/blog/investing/save-college-without-sacrificing-retirement