US parents willing to sacrifice retirement for children’s higher education, survey says

August 16, 2016

A new survey has revealed that US parents expect to sacrifice their own retirement plans in order to send their children to college. Bloomberg states that three-quarters of the surveyed parents were willing to postpone retirements to pay for their children’s college costs, and that just over two-thirds favoured putting money aside to help pay for tuition rather than their own retirement. The report noted that Millennials were more likely to prioritize their children’s college education over their own retirement, while the opposite was true of surveyed Gen X members and Boomers. Bloomberg | Report