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Reply to "Need advice on how to save for college - financially dumb parents and tricky situation"
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[quote=Anonymous]One other thing to consider it should both of your kids go to college? College is extremely expensive now and investing that money should be thought out carefully. You can always have them attend the community college for first 2 yrs and then enroll in local state school. Unless your kid is showing some truly great potential, trying to ship them off to an Ivy league school for the "college experience" is not a good financial move. And whatever you do don't jeopardize your retirement or home to fund their school. You have to have a place to live and a means to live after retirement and no guarantee that your kids will take care of you in your old age. It sounds selfish but you will be thinking about the money spent when you are clipping coupons and shopping at a food pantry for the poor when your 70. Unfortunately there are to many elderly out there now barely making it and can't get their Ivy League educated child to pick up the phone.[/quote]
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