If you’re a parent, chances are you’ve wrestled with this question:

“How can I save for my child’s education without sacrificing my own retirement?”

It’s one of the most common financial dilemmas families face, and it’s not just about dollars and cents. It’s about values, love, legacy, and stewardship. You want to give your children the best shot at success, but you also need to ensure your own future is secure. And when the numbers don’t seem to add up, it’s easy to feel stuck or guilty, like you’re letting someone down no matter what you choose.

 

Why This Problem Feels So Heavy

Let’s look at why this issue hits so close to home:

College costs have soared. Over the past 30 years, tuition has increased more than 200 percent, outpacing inflation and wage growth.

Retirement isn’t getting cheaper either. People are living longer, healthcare expenses continue to rise, and many worry about whether Social Security will be enough to help bridge the gap.

Parents feel torn. According to Sallie Mae, 42 percent of parents say they’re saving for college, but many admit they aren’t saving enough for retirement.

There’s a fear of letting your kids down. No parent wants their child to start adulthood burdened by debt or limited opportunities. But is it wise to risk your own financial stability to prevent that?

So… What Should You Do?

Before jumping to solutions, let’s reframe the question.

This isn’t about choosing your retirement or your child’s future. It’s about finding a balanced approach to pursue both goals wisely without neglecting your needs or overextending yourself. That’s not always easy, but there are practical ways to balance the load without breaking the bank or your spirit.

We Recently Had This Conversation on The Stewardology Podcast

If you’re looking for thoughtful, biblically informed guidance on this topic, we dedicated an entire episode to it on The Stewardology Podcast.

In that conversation, we discussed:

  • Why saving for retirement should generally come first (and why that’s not selfish)
  • How to calculate what you can reasonably contribute to your child’s education
  • Strategies to save for both goals at the same time
  • The importance of teaching kids about costs and helping them become part of the solution
  • When, why, and how to consider loans carefully if they are truly the right fit
  • Stewardship principles that help you make decisions with clarity and confidence—not guilt

 

Key Takeaway

You may have more options for education funding than you realize. Your children might qualify for scholarships, grants, work study programs, or manageable school options. Loans can be part of the strategy in some cases, but they aren’t the only solution and should only be considered when the long-term cost makes sense.

When it comes to retirement, however, there are fewer alternatives. Neglecting retirement savings can put you at risk of financial insecurity later in life, which could create strain not just for you but for your whole family.

 

Want to Learn More?

If this is something you’re currently wrestling with, you’re not alone. We invite you to check out the full conversation on The Stewardology Podcast. It’s a deep dive into how to approach this decision with wisdom, stewardship, and peace of mind.

Listen to the episode here → https://stewardologypodcast.com/229-how-do-i-balance-saving-for-retirement-with-paying-for-my-childrens-education/

 

Money decisions are rarely simple, but with clarity, planning, and a heart for faithful stewardship, you can make choices that honor both your family’s present and future.

 

Securities & Advisory services offered through Geneos Wealth Management. Member FINRA/SIPC

Image from Unsplash (Photographer: Brytny.com)