How Do I Balance Saving for my Kids and Retirement

How to Save for Your Kids and Your Retirement (Without Losing Your Mind or Your Money) Let’s play a game:You’ve got one dollar. 🍼 Your kid wants to go to college (and preferably not be buried under student loan debt).🧓 You’d like to retire someday without eating cat food. So... who gets the dollar? Welcome to one of the most common—and emotional—financial dilemmas: Do I save for my kid’s future or secure my own retirement? Here’s the answer:👉 You can do both. You just need a strategy that doesn’t come from the back of a cereal box. 1. Secure Your Oxygen Mask First You know the airplane analogy—and it’s true. If you’re not okay financially, your kid’s future isn’t either. Prioritize building your retirement foundation first. Your kids can get scholarships, part-time jobs, or choose a more affordable school. But there’s no financial aid for retirement (unless your kid becomes a billionaire and returns the favor). 2. Automate Both Goals (Even If It's Uneven) Don’t overthink perfection. Set up automatic contributions to your retirement and a 529 or custodial account for your child. Even small, consistent contributions compound over time—and you won’t have to decide which goal wins every month. You’re funding the future on autopilot. 3. Don’t Guilt-Trip Yourself This isn’t a competition of love. Choosing to prioritize your long-term stability doesn’t mean you don’t care about your kids. It means you want to avoid becoming a financial burden on them later. (And let’s be honest—they’re already going to blame you for something, might as well not add “financial stress” to the list.) 🎙️ Give the full audio a listen—I unpack this balancing act with a dose of real talk, some strategy, and a little humor (because let’s face it, finances can be stressful enough without sounding like a spreadsheet). Remember:💡 You’re not choosing between your future and theirs.You’re building a plan where everyone wins. Let’s un-eff your finances—one smart move at a time. #ParentMoneyMoves #UnEffYourFinances #GameChangersAndWealthBuilders #RetirementPlanning #CollegeSavings #RealTalkMoney

Episode Transcript

(00:03):
Welcome to Unf Your Finances with Nicholas Saint
George from Saint George Wealth Management.
This is the podcast where we help busy
professionals navigate the complexities of their finances,
making the most out of their hard earned
money. We don't f around and find out.
We plan for the unexpected
by breaking down complex topics with humor, honesty,

(00:23):
and stories.
Join us on this journey where we explore
the real truth about finance,
empowering you to understand and manage your money
better.
Nicholas draws from years of expertise and invites
guest experts to solve your financial challenges and
help you stay on track for retirement.
Hi. I'm Nick Saint George, certified financial planner,

(00:45):
and let's talk about the classic trade off.
Should we be saving for our kids' college
or maxing out our own retirement? This question
always spikes twice a year, back to school
season and tax time because that's when reality
hits hardest. You're staring at tuition calculators and
four zero one k contribution limits and asking,
can we actually do both? The answer, yes,
but not equally and not all at once.

(01:05):
So let's break it down.
Retirement comes first, and that's not selfish. Here's
the hard truth. There are no scholarships for
retirement. Your kids can get loans, grants, work
study, or help from extended family. You, you
get Social Security and whatever you save. So
taking care of your retirement isn't putting your
kids last. It's making sure they won't have
to support you later.
Think of it as putting your oxygen mask

(01:26):
on first, then help the kids. So match
your strategy to the season. If you're in
your thirties and forties, start with automating retirement
savings, especially if there's an employer match. Then
open a five twenty nine plan or an
education account. Even a small monthly contribution compounds.
In your fifties?
It may be time to prioritize catch up
contributions,
fine tune your retirement timeline, and coordinate with

(01:49):
any college decisions still ahead.
Every season has a different balance.
That's why planning, not guessing, is key.
And remember, it doesn't have to be either
or.
One of the biggest mistakes I see, families
trying to go all in on one goal
and ignoring the other. But it's not about
going all in. It's about going intentional.

(02:09):
Fund the five twenty nine with bonuses, tax
refunds, or gift money from grandparents.
Use your retirement plan to reduce taxable income.
Layer in strategies that allow both buckets to
grow with flexibility.
You don't need to choose between being a
good parent and a responsible future retiree. You
just need the right framework.
Make a plan, not a guess. So how

(02:29):
do you balance savings for your kids and
yourself?
Prioritize retirement.
Start early and automate education savings, adjust the
balances as life evolves,
and don't try to wing it.
Plan it.
If this trade off feels overwhelming or if
you just want help creating a strategy that
works for your family, let's talk.
Click the link below to schedule a strategy

(02:50):
session. We'll build a plan that supports your
kids
and your future self with zero guilt and
total clarity
because you shouldn't have to sacrifice tomorrow to
pay for today. The information covered and posted
represents the views and opinions of the guest
and does not necessarily represent the views or
opinions of St. George Wealth Management.
The content has been made available for informational

(03:11):
and educational purposes only. The content is not
intended to be a substitute for professional investing
advice.
Always seek the advice of your financial advisor
or other qualified financial service provider with any
questions you may have regarding your investment planning.
The opinions voiced in this podcast are for
general information only and are not intended to
provide specific advice or recommendations

(03:32):
for any individual.
To determine which strategies or investments may be
suitable for you, consult the appropriate qualified professional
prior to making a decision.
Securities and advisory services offered through LPL Financial,
a registered investment advisor, member FINRA and SIPC.
Any guests in their company or companies are
not affiliated with or endorsed by LPL Financial

(03:54):
unless otherwise stated.
Individual tax and legal matters should be discussed
with your tax or legal professional.
Economic forecasts set forth may not develop as
predicted, and there can be no guarantee that
strategies promoted will be successful.
All performance referenced is historical and is no
guarantee for future results.
All indices are unmanaged and may not be

(04:14):
invested into directly.
There is no assurance that the techniques and
strategies discussed are suitable for all investors or
will yield positive outcomes.
The purchase of certain securities may be required
to affect some of the strategies.
Investing involves risks, including possible loss of principal.