About 47% of U.S. parents now say saving for college is a higher priority than saving for retirement, and only 41% say retirement savings should come first.
Researchers at Country Financial, Bloomington, Ill., have reported that finding in a summary of results from a May survey of 1,241 U.S. adults who expect to be responsible for paying for a child’s education.
Participants rated college savings as being more important than retirement savings for the first time in 3 years.