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07
Combining retirement
and college costs
Managing money … as a couple
Increasing numbers of parents are still helping
children pay for college — after the parents
have retired. While the desire to assist off spring
is understandable, risking retirement to
pay for college may not be the best
approach. Instead of draining retirement
savings to pay for costly private-school
tuition, investigate cheaper education
options such as spending the fi rst two
years at a community college before
transferring to a four-year or private
university. Encourage your children
to apply for scholarships — and
a part-time job — to help cover
tuition and expenses. — M.H.
Couples Money authors
Marlow and Chris Felton say
the best way to get on the
same fi nancial page as your
partner is to focus on what
you both really want by
communicating and constantly
planning around that target.
Use each other's strengths
to work toward your goals
together. Start by seeing
money as a positive force,
believe you deserve to have
it and know that it belongs to
both of you — regardless of
the direct source.
