Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Is putting $$ into retirement (not college funds) wise for older parents? "
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]My husband and I don't make a lot of money (HHI around $100,000), and we'll be over 60 by the time our kids reach college. There's no way we can cover the costs of college for our two kids--they will need financial aid. Having been a financial aid kid in college myself, I know that the poorer the family looks, the more aid they will get. I also have the impression (based on limited Googling) that retirement funds don't count in financial aid calculations. (At least not for publics; some private colleges could be different.) So my thought is that instead of putting our savings into a college fund or investment (eg rental property), we would be better off putting it all into retirement funds (up to the IRS's $16,000?/each max, which we are not doing now). Assuming we're still working, we can borrow from ourselves without penalty and pay ourselves back without having it add to our income. Does this make any sense? [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
