NerdWallet: “Asked on Reddit: Should I Save for My Retirement or My Child’s Education?”
NerdWallet, Aug. 22, 2025 — In today’s article by Kimberly Palmer, we learn about a Reddit user who recently asked for advice about whether to save for retirement or for their young children’s future college expenses. Respondents urged the user to prioritize retirement. Take care of yourself, one said, so you won’t be a burden to your children one day. You can take out loans for college, but not for retirement, another noted.
Palmer asked financial experts the same question: How can parents juggle these two competing financial goals
Marguerita Cheng, CFP® Pro and CEO of Blue Ocean Global Wealth, said:
Put yourself first: The sentiment among the Reddit responses was to prioritize your own needs, which experts agree is sound advice. “Just like on an airplane, put your own oxygen mask on first. There’s all kinds of financial aid for your child, but there’s no financial aid for retirement,” she adds, echoing the Reddit comments. “Prioritize saving for retirement — as well as an emergency fund — before turning to college savings.”
Adjust as you go: Even if you only have a little money available to set aside for retirement or general savingseach month, don’t wait, says Rita. As young children transition to school and child care costs decrease, you might be able to contribute more and focus on college savings accounts, too. “The most important thing is to start,” Cheng says, even if you’re only setting aside $50 a month and scaling up from there.