Jill on Money with Jill Schlesinger Retirement and College Expenses
8 snips
Nov 14, 2025 Jen, a caller approaching retirement with twin high-schoolers, shares her dilemma about balancing college expenses and retirement savings. They dive into the specifics of her 529 balances and anticipated college costs. Jill analyzes the pros and cons of tapping into retirement accounts for tuition and suggests strategic adjustments in employer contributions to maintain cash flow. They also discuss managing investments in 529s before tuition payments and the importance of reviewing estate documents to ensure financial security for the family.
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Caller Profile: Near-Retirement With Twins
- Jen is 57, recently retired, and her husband is 55 and still working with a high salary and bonus.
- They have twins in high school with about $175–$180k saved per child in 529s.
Lock In Year-One Tuition
- Take the first year of tuition out of each 529 and hold it in a stable value or money market fund to avoid market risk.
- Use retirement savings gradually and reduce your husband's 401(k) contributions short-term to improve cash flow before tapping large pre-tax accounts.
College Costs Rival Home Prices
- College cost estimates for their kids range from roughly $70k to $90k per year, producing totals comparable to home prices.
- Jill highlights how college expenses can rival major lifetime purchases and require careful planning.