Baby Boomers in Student Debt?
- February 6, 2019
ONE GENERATION OF AMERICANS OWES $86B IN STUDENT DEBT. ITS MEMBERS ARE ALL 60 YEARS OLD OR MORE
Seniors with student debt? Surely that is some sort of a mistake. No, it’s not. A recent article in the Wall Street Journal (WSJ) shined a light on a little known and growing problem. Seniors that have taken on student debt. Some took out loans to help pay for their children’s college tuition and while the child may be out of school for years, the debt remains. Others, in the wake of the most recent recession, took out student loans while trying to reinvent themselves. They needed new skills to make themselves more attractive to potential employers. Many of those dreams withered on the vine but again, the debt remains.
401(k) Plans, Student Loans & the Private Letter Ruling AND The 2019 Maximums Are Out
- November 13, 2018
For many Millennials saving for retirement has become a binary choice. Either they choose to pay down their student debt or they choose to save for retirement. Either one or the other. As many Millennials are in the earliest years of their working careers, difficult choices about how to allocate their hard earned paychecks must be made. Therefore, for many Millennials, paying down their student loan trumps deferring into their company’s 401(k) plan.