Establish a 401(Kid)
Let’s face it: few kids save much, if any, of their part time and summer job incomes toward college. This much to the chagrin of their parents who see college costs looming on the horizon. After all, parents also feel some pressure when tuition bills come due and the student has nothing left to contribute.
How to bridge this gap? In particular, how can parents motivate students to forego near-term doodads and pleasures for the sake of longer-term priorities? Continue reading