Comments on: Teens’ College Plans are Changing – Use This Time to Talk About Smart Money Management http://cashmoneylife.com/2009/05/22/college-plans-smart-money-management/ Money Management, Small Business, Career Fri, 20 Nov 2009 20:44:55 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Patrick http://cashmoneylife.com/2009/05/22/college-plans-smart-money-management/comment-page-1/#comment-18433 Patrick Fri, 05 Jun 2009 17:08:26 +0000 http://cashmoneylife.com/?p=1608#comment-18433 Absolutely. There are no clear cut rules with personal finance, retirement, college, etc. It's all about finding a balance and what works for your particular situation. Absolutely. There are no clear cut rules with personal finance, retirement, college, etc. It’s all about finding a balance and what works for your particular situation.

]]> By: Anne T Meyers http://cashmoneylife.com/2009/05/22/college-plans-smart-money-management/comment-page-1/#comment-18432 Anne T Meyers Fri, 05 Jun 2009 17:06:47 +0000 http://cashmoneylife.com/?p=1608#comment-18432 Tapping your IRA is a last resort. So it would apply if you're kid cannot borrow her way through college for any number of reasons. I would use it only if not using it meant my kid having had to give up going to college. Some families might strike a deal: Instead of paying back a student loan, kids pay back parents in the form of new IRA deposits when they have a job after college. It depends upon the family dynamic, financial situation, and in some cases the field of study the kid is pursuing. --Anne Tapping your IRA is a last resort. So it would apply if you’re kid cannot borrow her way through college for any number of reasons.

I would use it only if not using it meant my kid having had to give up going to college.

Some families might strike a deal: Instead of paying back a student loan, kids pay back parents in the form of new IRA deposits when they have a job after college. It depends upon the family dynamic, financial situation, and in some cases the field of study the kid is pursuing.
–Anne

]]> By: Patrick http://cashmoneylife.com/2009/05/22/college-plans-smart-money-management/comment-page-1/#comment-18431 Patrick Fri, 05 Jun 2009 16:36:33 +0000 http://cashmoneylife.com/?p=1608#comment-18431 I don't think I would tap my retirement funds to pay for my child's college tuition. I can't borrow my way through retirement, but my child can borrow her way through college. I'd try to help if possible, but I think retirement needs to come first. I don’t think I would tap my retirement funds to pay for my child’s college tuition. I can’t borrow my way through retirement, but my child can borrow her way through college. I’d try to help if possible, but I think retirement needs to come first.

]]> By: Anne T Meyers http://cashmoneylife.com/2009/05/22/college-plans-smart-money-management/comment-page-1/#comment-18430 Anne T Meyers Fri, 05 Jun 2009 16:33:46 +0000 http://cashmoneylife.com/?p=1608#comment-18430 Love this post. The statistics are very interesting. As a college professor and a journalist specializing in teaching teens to manage money, I can say they ring true. Every college kid's story I'm hearing is about looking for work, or more work. It's very hard to strike a balance between work and school for many of them. I felt compelled to share my blog here, which is AskAnne, giveme20.com/blog I've just posted a column about tapping your IRA, penalty free, to pay for college tuition. It's a last resort, for sure, but a viable one. Thanks again for this article, I'll keep track of your work. --Anne T Meyers Love this post. The statistics are very interesting. As a college professor and a journalist specializing in teaching teens to manage money, I can say they ring true. Every college kid’s story I’m hearing is about looking for work, or more work. It’s very hard to strike a balance between work and school for many of them.

I felt compelled to share my blog here, which is AskAnne, giveme20.com/blog

I’ve just posted a column about tapping your IRA, penalty free, to pay for college tuition. It’s a last resort, for sure, but a viable one.
Thanks again for this article, I’ll keep track of your work.
–Anne T Meyers

]]> By: DDFD at DivorcedDadFrugalDad http://cashmoneylife.com/2009/05/22/college-plans-smart-money-management/comment-page-1/#comment-18281 DDFD at DivorcedDadFrugalDad Sat, 23 May 2009 00:04:34 +0000 http://cashmoneylife.com/?p=1608#comment-18281 There are alternatives to college-- starting a business, employment, trade school, military service, etc. Some kids may need time to save money and think about what they really want to do as far as college . . . There are alternatives to college– starting a business, employment, trade school, military service, etc.

Some kids may need time to save money and think about what they really want to do as far as college . . .

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