Saving for College and Retirement

If you start having children in your late thirties or in your forties, you won't have that much time until your retirement when your kids are in college. That's why it's essential that you continue to put money away for your retirement, especially if your company offers a 401(k) with employer-matched contributions. Contribute to the max!

If you still have kids in college when you reach the age of 59-1/2, you can start withdrawing from a tax-deferred retirement account for college costs - but don't forget, any money you withdraw for any reason is less money you'll have for a comfortable retirement.