Balancing Retirement With Tuition

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.6 • 1.9K Ratings

🗓️ 23 March 2026

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

We adopted two children late in life, and with both now in high school, we are trying to balance saving for retirement with the upcoming college tuition.

Transcript

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0:00.0	Welcome to the Jill On Money Show. It's Monday, March 23rd, and we are here talking to you about whatever is on your mind financially. If you've got a question, if you're trying to weigh a decision, if you want to know whether you're on track to pay for college, if you're considering a new job, get in touch with us. Go to jillonmoney.com. Click the contact us button. It's in the upper right hand corner of our website. Write us a note. If you'd like to join us live, all you need to do is check the box. Mark will do everything else. He'll track you down. He'll get you a range. It's all so easy.
0:39.3	So just, I don't know, bookmark Jill on money.
0:42.1	You never know when you might have a financial question.
0:44.4	Don't forget while you're on the website to sign up for the free weekly newsletter, which
0:47.6	comes out every Friday.
0:49.4	And that will also entitle you to our blog.
0:52.2	Okay, today we are talking to Mark, who joins us from the
0:56.3	nation's capital, Washington, D.C. Hello, Mark. How are you? I'm doing great. Thank you.
1:02.3	Fantastic. What can we do for you today? I'm facing a couple of choices, and I'm trying to figure out
1:07.0	where the best path forward is. One of it is related to 529 accounts, and my kids are both
1:14.8	teenagers, and they're now in Catholic high school. I'm trying to wonder if I should tap the 529s
1:22.8	to help pay for their tuition for high school, if that makes sense tax-wise, as well as also
1:31.9	trying to balance how much money I put in 529 accounts for college, as well as balance my
1:38.2	priorities for retirement because my spouse and I are, you know, later in life, we decided to adopt kids. And so we're,
1:47.0	we're hitting that, that junction point of being close to retirement as well as having kids
1:52.8	heading to college. Sandwich in. Mark, how old are you? I'm 58. And your spouse?
2:02.2	He's 64.
2:03.7	How old are the kids?
2:05.6	14 and 17.
2:10.8	How much money is in the 529 accounts for each of these kids?
2:16.5	Yeah, we started them when they were both young and we lived in a different state so they're they're not DC 529s which is
2:19.3	where we're now but they're in another state but we have 84,000 in one account and 91,000
	...

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