Business
The cost of higher education is rising, and it’s a temptation for many parents to pull money from their retirement funds to help pay for their children’s college expenses. But if you pull money from your retirement, will you be able to replace that money or are you willing to make sacrifices in your retirement? As we age, we also decrease the time we have to contribute to retirement funds, making it harder and harder to replace the money we withdraw, compromising our retirement situation. Before you pull from your retirement funds, consider: Student loans, both private and federalFinancial aid opportunities like scholarships, work-study, or income-basedCommunity collegeTrade schools or other vocational training optionsIf you’d like to create a financial plan, free of charge, please contact me at mike.wegener@raymondjames.com.