Parents Advised To Put Retirement Ahead Of College

The stock market slide that has decimated savings for retirement and college savings with equal savagery is forcing many parents into an uncomfortable choice of where to cut back first. Common sense and mathematics make it a straightforward call in the eyes of many financial planners: Even if college looms soon for your child, retirement savings has to be the top priority. "I've seen too many horror stories where people feel this obligation to pay for their children's college because maybe their parents paid for theirs," said Drew Denning, vice president of income solutions for Principal Financial Group Inc. "They're five to ten years from retirement and it jeopardizes their retirement income." Read more at:
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