Family Years
Can You Fund College and Retirement at the Same Time?
The family years force a hard financial question: how do you balance current expenses with investing in the future? College costs are rising 5-7% annually. Life insurance becomes important. Your mortgage is often your biggest monthly expense. The families with the most flexibility in this stage are typically the ones with a plan.
Interactive Tool
Education Savings Planner
Balance college funding and retirement savings. See how 529 plans, Roth IRAs, and time work together.
Amount you plan to save each month for college, between $100 and $2,000.
Current age of the child you are saving for, from newborn to 16.
Number of children you plan to fund college for, 1 to 4.
College type
Projected 529 balance
$101K
at college enrollment
Estimated total cost
$211K
4 years, inflation-adjusted
Coverage
48%
Gap: $110K
Investing involves risk including loss of principal. No strategy assures success or protects against loss. Past performance is not a guarantee of future results.
This calculator provides estimates for educational purposes only. Actual results will vary based on market conditions, fees, tax circumstances, and other factors. Not investment advice. Consult with a qualified financial advisor before making decisions. Investing involves risk including loss of principal. No strategy assures success or protects against loss. Securities and advisory services offered through LPL Financial, Member FINRA/SIPC.
Get Your Personalized Analysis
These numbers are general estimates. Alex Carter specializes in growing & protecting planning and can build a strategy tailored to your situation.