Here we are at baby step #5, saving for your children’s college. As you likely know, Mr. Ramsey’s guidance is to work on steps 4, 5, and 6 at the same time. He does keep this step more vague then the others due to the differences in family circumstances, from those who do not have children to those who have a boat load, creating a much bigger challenge in saving for college for the entire brood.
Most of what we’ve read, heard, and watched from Dave himself about this part of the journey implies it’s a non-negotiable step if you have children. This is concerning, as everyone’s situation is different. To be fair, Chris Hogan, one of the “Ramsey Personalities”, has shared on more than one occasion that one size does not fit all and, furthermore, making sure you can afford to retire should take priority. Amen to that!
Continue reading “Commentary on Step 5 – Saving for College”