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Paying kid's tuition may crush client's retirement Although parents need to save for their child's education, they should make retirement saving their topmost priority, according to this article on CNBC. They should make the most of the tax savings and employer match contributions in their 401(k) plans and contribute to an IRA for tax-deferred savings and compounded growth before they set aside an amount for their child's college expenses. "In retirement there are no options if you don't save for yourself first," says an expert, adding that parents should coach their children on responsible financial planning, "That, to me, is an opportunity missed."

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