The Balancing Act of College Savings Versus Retirement Savings with Darren Brennan (Ep. 30)
What if you could save for both your child’s education and your retirement — without feeling torn?
Join us for this episode of The Retirement Engineer as Jim Kruzan, CFP®, CRPC®, Senior Wealth Advisor and Founder of Kaydan Wealth Management, along with Darren Brennan, Wealth Manager and CFP®, break down the strategies you need to successfully balance these competing financial priorities.
Learn how you can prioritize retirement while still setting aside funds for your child’s education without jeopardizing your financial future.
Key Highlights:
- The Cost of College vs. Retirement: With college costs rising 9% annually — far outpacing inflation — strategic planning is more essential than ever
- Prioritize Retirement First: Discover why planning your retirement is vital before focusing on college savings, and how tools like Roth IRAs can serve both goals
- Smart Savings Tactics: Explore the 50-30-20 rule and the benefits of 529 plans, which allow family members to contribute
- Family Conversations: Learn how to discuss financial expectations with your kids, ensuring they contribute and understand the value of education
- Scholarships and Financial Aid: Find out how scholarships, FAFSA, and financial aid can ease the burden, along with budget-friendly alternatives like community colleges and work-study programs
- And much more!
Resources:
- Average Cost of Undergraduate Degree
- In-State Vs. Out-Of-State Tuition
- 20-Year Average Cost Increase
- U.S. Families Using Scholarships
- U.S. Dept. of Education Annual Scholarships
- Community or Junior College Savings
- Society of Actuaries Research Finds That Americans Making Significant Trade-Offs Among Those Saving for Both Retirement and College
- Scholly
- Federal Student Aid
- Appily
- Bold.org
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
Connect with Darren Brennan:
About our Guest:
Darren Brennan, CFP®, CRPC® is responsible for delivering the full spectrum of wealth management to our clients. Darren is a key member of Kaydan Wealth Management’s Investment Policy Committee and also supports the Senior Wealth Advisor with the creation and maintenance of client’s financial plans.
“My goal is to help our clients build and preserve their wealth. I want them to feel confident in the work we do for them so they can enjoy their retirement.”
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