Saving for both early retirement and for your children’s college education is difficult. Each requires amassing a substantial amount of money in a relatively short period of time. For most people, those time periods for saving overlap.
This creates a challenge which may seem like an insurmountable obstacle. Many students and parents assume student loans are inevitable.
My wife and I are both first generation college graduates from middle to lower middle class families. We’ve each earned three college degrees with minimal student loan debt.
Obtaining the skills to command a professional salary without the debt typically associated with those degrees was a complete game changer for us. We were able to get on the path to financial independence quickly, while many of our peers were drowning in debt. As a parent, this is an amazing gift to give your child if you can.
I’ll share the framework my wife and I are using to enable our daughter to get off to a similar start. Our strategy is based on techniques we used to acquire our degrees combined with strategies of others featured in my book who have “hacked college.”
I’ll also share tactics that allowed us to confidently be done saving for our daughter’s education before I left my career when she was five years of age.
