Believe it or not, you can handle your child's higher education costs and your 401(k) deferrals — you'll just have to start saving years in advance.
That was the finding reached by S. Katherine Roy, chief retirement strategist at JPMorgan Asset Management. She hosted a presentation on the topic at the recent Schwab IMPACT conference in San Diego.
Parents can create the bandwidth to fund college tuition and retirement if they begin saving as early as possible. Grandparents can help them get there with well-timed tax-free gifts, too.
"The good news is that if you do everything right, funding public school tuition is doable, and you can keep your retirement on track," said Roy.