Parents tend to worry more about saving for retirement than for saving to pay children’s college tuition bills.
Researchers at Hartford Financial Services Group Inc., Hartford, have reported figures supporting that conclusion in a summary of results from a recent parent survey.
About 70% of parents say they make college a top savings priority, but 83% say they make saving for their own retirement a top savings priority.
The share of parents who put retirement savings first was 80% for parents without financial advisors and 91% for parents with advisors.
The share who put college savings first was 80% for parents without an advisor and 68% for parents with an advisor.