Dave Ramsey says: Fund your retirement first

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  • Liberal Ted Salt Lake City, UT
    April 29, 2014 3:18 p.m.

    Even better than your child taking on debt to go to school. They should simply take on a job. I started a paying job on my 16th birthday. That's what I did for my birthday was to go through orientation and fitted for a job. From then on, every penny went into savings. Mom and Dad let me live in the home rent free, so everything was saved. Working through High School, I saved enough to cover all 4 years of college. I qualified for a couple of grants, but, they did very little for me. I also moved out and worked and paid cash for the rest of college.

    I have a hard time understanding why people claim they can't go to college. Discrimination isn't allowed, unless if you count affirmative action that limits whites ability to go to school if their quota is filled. Otherwise you simply get a part time job, go to school, and live like no one else, so you can live like no one else.

  • carlyt ny, NY
    April 29, 2014 4:19 a.m.

    You should not pay for your children's college or other costs unless your retirement nest egg is fully funded and secure. While it may not be an easy thing to do, your children have something you probably do not have: Time. They can probably take out loans while you may not have enough time to restore your retirement account if you loan/give them money. I just read several related posts and pages about reasons not to touch your nest egg for non-retirement reasons on the site Retirement And Good Living.