Should Isaac Use Savings or Debt for College?

Stephen Kreider Yoder and Isaac Yoder:

STEVE: I was checking our family bank-account balance online one night this summer, when my eyes slid down to another account, lower on the bank Web page.

"Interest Checking," it said, and beside the account number was an astounding dollar figure -- much bigger than I expected. It was Isaac's bank account.

"You should think about adding some more of this money to your Roth IRA," I told him as he worked at the desk next to me, preparing for college by organizing his most precious asset -- the music files on the family computer.

"Hmm," came the noncommittal reply. I knew how the debate would go next.

As we wrote earlier, The Wall Street Journal pays Isaac for his half of this column. Last year, he agreed to invest part of that in a retirement fund so he has a head start later in life.

Posted by Jim Zellmer at September 14, 2009 1:34 AM
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