Financial fix-up: Two birds with one stone

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Welcome back -- that in a recent survey 81% of parents said they are worried college tuition costs are becoming.

To price but our next guest says it's still possible to send your kids to college and retire comfortably at the same time.

Personal finance expert Farnoosh Torabi joins us now to talk about a nice to see that's good morning.

Are so let's talk about prioritizing retirement first you say is the most important thing to do I mean just think about the sheer numbers retirement is -- -- thirty years long colleges for.

And there's no financial aid per say.

For retirement -- lot more flexibility when it comes to college parents can save in a variety of ways whether extra 529 plan.

Which -- tax advantage plan of offered at the state level or -- like the Gerber life college plan which is sort of like an endowment life insurance policy.

You pay into it at the end of maturity could get -- a 150000.

Dollars and that -- can be for college or anything.

All right you say involve your kids and financial planning -- snow and -- -- and where do we start I'd say the first -- high school as opposed to senior year high slowing your kids got.

His or her heart set on going to -- IB leave for a 50000 dollars here.

And you can't explain to this person why I mean that happened to me I couldn't and I -- -- a -- -- went to Penn State instead ended up being a great opportunity but if my parents has your coach to me and that's security at a coach your kids.

To realize that college planning is a family affair.

And it is expensive and you we want you to go to college junior -- but -- talk about how much it costs and what your alternatives -- made you stick beer between high school and college you can work to build.

You know savings to go to college -- -- go easy on the loans -- his ideas on -- adhere to any -- stories and of students who graduate with six figure loans and not talking 20030000.

That's a safe area -- 100001.

You know a degree in English that's very risky.

In this economy so what you want to do is when you're considering loans consider public loans first federal loans first and then private loans.

And then also.

The rule -- is whatever it gonna take out make sure that it's below what -- anticipated first year salary will be.

So if you're gonna graduate with anticipated 45000 dollar a year salary -- to borrow more than 45000.

You also say the consider tuition free university is like Cooper Union Alice Lourdes College.

College of those are two Missouri and many others Farnoosh Torabi thanks so much for joining us this morning my great tips -- so --

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Financial fix-up: Two birds with one stone

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