We constantly see headlines about the increasing cost of education and the strain it puts on family finances. There is no question that funding a child's college education is one of life's most significant investments. So how can you keep junior's undergrad years from undermining your own retirement savings? The following are several important planning tips to help you ace this test.
Let me make the case that you shouldn't save one penny for your kid's college tuition. Don't even open a 529 college savings account. Unless you've got $10,000 or some eye-popping figure to toss into that bucket every year (if you do, you can probably also do what I'm about to say), Don't. Even. Bother.