Are you on track for retirement?

lookout123 · 12-10-2007, 01:00 PM

i'm on board with you cousin. if you make significant income - and i think $100K annually qualifies a personal decision needs to be made. The parents need to decide if paying for the kid's schooling is an obligation they want to take upon themselves or not. if they don't want to pay for the schooling then by all means - buy the bigger boat. if school is the priority - then fire up the savings or 529 plan.

but when it comes down to it, i've got problems with parents trying to take on debt to pay for their kid's college degree. unless the kid is going to medical or law school if they come out of college with $50K or more in student loans they are pretty fucked. if the loans are in the parents' names then they are both fucked. to go deep into hock just to get a B.A. makes NO sense. work part time or full time if necessary - graduate in 5 or 6 years instead of 3 or 4. decide what you want to be BEFORE you start school instead of changing majors 5 times.

View Poll Results: Are you financially ready for retirement?
I'm already retired and living in luxury	0	0%
I'm already retired and living under the freeway	2	13.33%
I'm ready to retire any day	0	0%
I'll be ready to retire when I'm 65	3	20.00%
I'll be ready to retire when I'm dead	9	60.00%
I love working and would never want to retire	1	6.67%
Voters: 15. You may not vote on this poll

12-10-2007, 01:00 PM	#23
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	i'm on board with you cousin. if you make significant income - and i think $100K annually qualifies a personal decision needs to be made. The parents need to decide if paying for the kid's schooling is an obligation they want to take upon themselves or not. if they don't want to pay for the schooling then by all means - buy the bigger boat. if school is the priority - then fire up the savings or 529 plan. but when it comes down to it, i've got problems with parents trying to take on debt to pay for their kid's college degree. unless the kid is going to medical or law school if they come out of college with $50K or more in student loans they are pretty fucked. if the loans are in the parents' names then they are both fucked. to go deep into hock just to get a B.A. makes NO sense. work part time or full time if necessary - graduate in 5 or 6 years instead of 3 or 4. decide what you want to be BEFORE you start school instead of changing majors 5 times. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

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