Stabilizing paying for college tuition and conserving for retirement can be extremely hard for families, especially those with several children to prepareprepare for.
This week we look at a couple trying to stabilize retirement investing and college investing for their three children.The Situation
Kevin, 57, and Becky
, 49, are native Coloradans staying in Lone Tree. The couple have three kids, a sophomore at the University of Denver, a freshman at Villanova University, and a high school freshman, who they forecast will attend college from state.
Kevin works completefull-time as a company analyst for DaVita in downtown Denver, and Becky is an agreement consultant for Vail Resorts. Beckys earnings is different based on her tasks, but the couple jointly earns around $242,000 each year. Their house is valued at $750,000, and they owe $280,000 on their mortgage. They likewise have a paid-off leasing in Avon valued at $200,000 and are half owners of a condominium in Vail. Their half of the Vail condo is valued at $300,000 and has an exceptional balance of $79,000.
In addition to their realrealty, Kevins 401(k) balance is $218,503, and his traditional IRA is at $43,777. Becky has a SEP IRA valued at $120,695, and her traditional IRA is $134,080. Kevin has a pension from his years as an educator, valued at $1,473 per month start when he strikes age 65.