How does a parent select retirement over their child's education or conversely their child's education over their retirement? Both are critically important and this blog says that, with the right retirement plan, a family can fund both.
Atlanta, GA (PRWEB) July 25, 2014
This economic climate has proven difficult for many individuals and prompted some families to make choices that they never considered they would have to. This new blog "Priorities: Retirement or Education?" addresses 2 of the top areas that families strive to save for and explains that Self-Directed IRA s may be a part of the solution.
How does a parent select retirement over their child's education or conversely their child's education over their retirement? Both are critically important and this blog says that, with the right retirement plan, a family can fund both retirement and education from the same account while enjoying tax-free/tax-deferred growth within the account.
The blog urges families to consider alternative sources of funding for their child's education such as: student loans, scholarships, financial aid, and even through enrollment in the military. Still, the blog doesn't stop there, it also explains how an individual make a withdrawal from their Self-Directed IRA, penalty free, to help fund qualified education expenses.
As this blog explains "no parent wants to be reliant on their adult children for living expenses" so it makes sense that building the retirement account should be the priority. Though, the blog cautions that there are exceptions.
Click here to read the entire blog.
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