, Columnist
Millennials Should Use Those Roth IRAs to Invest for College
The retirement accounts can be leveraged to pursue other goals — like saving for your kid’s schooling — in a tax-advantaged way.
Back to school.
Source: Bloomberg
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If there’s one thing the impending back-to-school season makes clear, it’s that the cost of higher education in the US is nerve-racking. The average tuition and fees for the 2021-22 school year is $10,338 at an in-state public college, $22,698 at an out-of-state and $38,185 at a private school, according to US News data.
Based on how much costs are increasing each year, though, millennials can expect to see far larger bills by the time their kids get to college. How does one possibly prepare for a child to go to university while also securing one’s own financial future?