Want to save enough for retirement? Talk to your children about finances

The following scenario is more typical than anybody would admit. Parents are paying for their children’s private university 4-year degree, and the children come out unemployable because they do not possess any types of skills that are worth anything in the marketplace. When the children graduate, they have a hard time finding a decent job, so they end up living with their parents. For much of the time the children are in college, parents provide for their children’s expenses, and when the children move back, the same pattern repeats. For parents whose kids already graduated, chances are that their house was bought when the prices were not as high as they are today, but in the past 10 years, many parents probably moved into a very expensive house they bought to have their kids attend a school in a so-called good school district. And of course, the price tag today is much higher than it was 10 years ago for a 4-year private university.

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