In this episode of Blue Collar Wealth presented by Stone House®, join Bob Brown, CFP®, as he talks about how to balance saving for your retirement while also planning for your kids’ college expenses.

If the thought of paying for both retirement and education seems overwhelming, don’t worry—you’re not alone, and you don’t have to go broke doing it.

First things first—prioritize your retirement.
Yes, it’s tempting to start funneling money into a college fund right away, but the truth is, there are no loans for retirement. You need to make sure you’re on solid financial ground before taking on the extra responsibility of education savings.

Explore your college savings options.
One of the best tools out there is the 529 plan. It’s like a 401(k) for education—offering tax benefits and flexibility. Bob breaks down the difference between a traditional savings plan and prepaid tuition, and why starting early can make all the difference.

Budgeting doesn’t have to be a dirty word.
Whether you’re already contributing to your 401(k) or just getting started with a 529 plan, setting up a budget is key to making consistent contributions. Start small, track your progress, and adjust as you go. Even if budgeting feels like a trip to the dentist, it’s crucial to long-term success.

Don’t forget about financial aid and scholarships.
Encourage your kids to apply for scholarships, grants, and work-study programs. These options can significantly reduce the cost of college, and scholarships are out there for just about everything—you just need to know where to look.

Get your kids involved.
Teaching your children financial responsibility is a win-win. Consider making saving for college a shared effort. Encourage them to contribute through part-time work or savings, so they understand the value of their education.

Need a game plan?
That’s where we come in. At Stone House, we specialize in helping our clients build financial security and that priceless peace of mind that allows for greater happiness in retirement. Request an appointment with a Stone House Advisor to get started. Don’t guess—let us run the numbers and guide you on the best course for your family’s financial future.

Thanks for watching!  

We’ll be back next Wednesday with a new episode, so stay tuned. 

Timestamps:
🕒 00:00 Intro
🕒 01:30 Retirement Savings
🕒 03:33 College Savings Options (529 Plans)
🕒 05:38 Budgeting Tips
🕒 07:00 Financial Aid & Scholarships
🕒 08:15 Involving Your Kids
🕒 09:34 Seeking Professional Advice

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Disclosures:
Registration with the Securities and Exchange Commission does not imply that Stone House or its representatives have achieved a certain level of skill, certification or training or that the SEC approves of Stone House or its services.