30 Money Ideas That Are Vital For Early Retirement

6. Prioritize Saving For Retirement Over Children’s College Funds

This one may sound harsh. After all, isn’t your responsibility as a parent to do everything you can to prepare your child for adulthood? However, consider how many options are available to help finance your children’s education, everything from student loans to work-study opportunities to AmeriCorps stipends to scholarships and grants (via GOBankingRates). Nevertheless, these options are not available for retirement, and borrowing against your retirement fund will cause you to incur some hefty penalties (via GOBankingRates). You can help your children plan for college without sacrificing your own financial future to pay for their school.