Ira Contribution Limits

New IRA Contribution Limits 2021 | 2020 Maximum Annual 401k Rules

  • Follow Us
  • Home
  • 2022 IRA Rules
  • SEP IRA Rules
  • Traditional IRAs
  • Roth IRAs
  • Retirement Planning
    • REVERSE MORTGAGES

Saturday | May 10th >

Retirees Should Know These 3 Facts About Required Minimum Distributions

9 real retirees share what it’s like to stop working and live the life you want

Retirees, Don’t Get Stranded Hunting Returns

Opinion: 5 tricky retirement taxes boomers should watch out for

This Mother Of Three Had Ambitions To Retire By 40. Here’s Why She Quit That Goal To Invest In …

Avoid the Tax Trap Most Couples Don’t Want to Think About

The Most-Overlooked Tax Breaks for Retirees

Don’t Let Unexpected Taxes Diminish Your Retirement Dreams

Social Security: The Basics of When to Claim Your Benefit

New Pass-Through Tax Deduction Could Be a Bust for Business Owners

Do You Save for College or for Retirement? What Parents Need to Know

By Tim Kramer

Parents face a challenging set of competing priorities when deciding whether to save for their children’s college or their own retirement. Many would feel guilty if they didn’t put their children first, but the reality is, retirement savings should be the priority. If parents don’t don’t take care of their futures, then they will become a burden on their children later on. There are options to help cover the costs of college. Students should consider best value colleges, part-time jobs, or even starting at a community college before transferring to a four-year school. Meanwhile, parents need to save for their own retirement.

Key Takeaways:

  • Rising tuition costs have caused some parents to choose between saving for their kid’s college or saving for retirement.
  • Many parents believe that burdening children with student loans seems cruel and unfair.
  • Although it may seem counter-intuitive, parents should save for retirement before they save for their children’s education.

“When it comes to college savings, you have options. Use them! Pay yourself first, and then look at how you can support your children in a variety of ways.”

Read more: https://www.kiplinger.com/article/retirement/T042-C032-S014-parents-do-you-save-for-college-or-for-retirement.html

sa-captivate-placeholder
Print Friendly, PDF & Email

Filed Under: Summary

IRA Experts of America

Protect your income in 2022 with maximum individual retirement account contributions and 401(k) plans. Our expertise covers both Roth and Traditional IRAs, Simple IRA contribution limits and more. If you are starting to invest in an IRA or getting ready to retire, we can help!

Taxes Made Easy: Turbotax

CLICK HERE to File Free with Turbotax the #1 best-selling tax software. Create an account today.

Watch and Learn for Retirement

  1. 5 IRA Mistakes that Cost You Money
  2. Is a Roth IRA Right for You?
  3. Conversion Rules for Roth IRAs
  4. Eligible HSA Expenses
  5. More Roth Rules

Top Retirement Articles

  1. Retirement Calculator-How Much Do You Need?
  2. Essential Roth Rules
  3. Know Your Simple IRA Limits?
  4. SEP Contribution Limits
  5. 401k Maximum Deferrals
  6. Complete 2022 - 2021 IRA Deadlines
  7. Traditional IRA Limits

Current Retirement Topics

Retirees Should Know These 3 Facts About Required Minimum Distributions

9 real retirees share what it’s like to stop working and live the life you want

Retirees, Don’t Get Stranded Hunting Returns

Opinion: 5 tricky retirement taxes boomers should watch out for

This Mother Of Three Had Ambitions To Retire By 40. Here’s Why She Quit That Goal To Invest In …

More Articles

How to Retire Rich With Poor Returns on your Money

I don’t want to pay taxes on all that money!!!

Know Your Limits

  • Home   |
  • Simple IRAs   |
  • HSA Rules   |
  • Contact Us   |
  • Retirement Planning Video   |
  • About the IRA Help Team   |
  • Services   |
  • Privacy Policy   |
Copyright © Manhattan Capital Group Inc. and IraContributionLimits.com 2008-2025
Advertising Disclosure: IraContributionlimits.com is an independent, advertising-supported news and information website.
Website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.