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Reply to "Is putting $$ into retirement (not college funds) wise for older parents? "
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[quote=Anonymous]It does make sense, but more for the basic reason that if you don't have a lot of retirement savings already (which I am guessing is true given your HHI and the fact that you aren't maxing out your IRA) then it's more important to save for retirement than to save for college. Your kids can get aid/loans for college but no one will give you loans for retirement. If think you might want to use some money for college, you might look into a Roth IRA-- you can probably each save $5500 per year in it, and those contributions (not the earnings on them) can later be withdrawn without penalty.[/quote]
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