09/30/2013 09:48 am ET

Retirement Planning Versus College Savings


Dear Retirement Adviser,
I am 42 years old with children ages 3 and 4, and I have an eye toward retirement someday. My friend recently began monthly payments for a prepaid college tuition plan. I am debating whether it makes sense to follow his lead or invest the $350 a month in my 457 plan, which is a deferred-compensation retirement plan. I know the answer depends a lot on how much tuition costs when it time for my kids to go to college, but I want your input.

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