Saving for College vs. Retirement: Which Comes First?

Saving & Budgeting
Hand stacking coins next to a jar of coins that says Education

As parents, we instinctively want to put our children first—especially when it comes to their education. But when you're staring down the dual challenge of saving for your kids’ college and your own retirement, the question becomes: which should take priority?

It’s tempting to focus on college savings, especially when your child’s freshman year is just around the corner and retirement feels decades away. After all, you’ve already sacrificed sleep, personal goals, and countless comforts to give your child the best start in life. Why not continue that trend by putting college savings ahead of your own future?

Here’s why you shouldn’t.

While your child has access to financial aid, scholarships, grants, and student loans, your retirement doesn’t come with those options. You can’t borrow for retirement, and delaying savings now could leave you financially vulnerable later. Worse, it could shift the burden to your child just as they’re starting their own adult life—possibly with a family of their own.

The best course of action? Prioritize retirement savings. By securing your financial future, you’re also protecting your child from future obligations. As college approaches, you can reassess your ability to contribute to their education. But starting with retirement ensures long-term stability for both of you.

It’s not selfish—it’s smart. And ultimately, it’s one of the most supportive decisions you can make for your family.

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