Soon.
According to Beth Walker, a certified college planning specialist, parents should consider saving for college funds as soon as they can. “I joke that I should hang out in the labor and delivery room to get people to start earlier,” says Walker.
Millennial might have other things to worry about like rent, college debt, entertainment, and the costs of being an adult, but putting aside small amounts might help a lot down the road.
“Saving for college and retirement are parallel savings time lines, not sequential,” said Walker. “Parents unknowingly say, ‘I will fund college and then focus on retirement,’ but they need to be doing both at the same time.”
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April Market Commentary
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