![]() ![]() Investing for Your Child’s College Education Now that that's out of the way, let's take a look at how to invest in your child’s future. Hear us loud and clear here: Do not start investing for your child if you have to stop investing for your own retirement. You need to be prepared financially so you don’t end up depending on your children during your retirement years. ![]() You need to be completely out of debt (everything except your mortgage) with a fully funded emergency fund (enough to cover 3–6 months of expenses) and investing 15% of your income for retirement first. The same principle applies here, parents. Whenever you get on an airplane, one of the first things the flight attendants tell you to do in case of an emergency is to put on your own oxygen mask first before you turn around to help others. Ready? Here it is: Make sure you’re taking care of yourself before you start investing for your children or grandchildren. There’s one ground rule you need to follow. We know you’re eager to dive in, but let's pump the brakes for just a second. Those are great goals to have! So, give yourself a high five! Here’s a closer look at all the options you have to invest in your child or grandchild’s future. Or maybe you just want to help your kids get a college diploma without taking on any debt. Whether your kids are still crawling around the living room floor or getting ready to graduate from high school, there are plenty of ways you can give them a head start on their financial future.Īfter all, time and compound growth are on their side-and that’s perfect for kick-starting your children's retirement savings. ![]()
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