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Q: What's the best age to start saving for my kid's education? (Both my age and his?)
While there is no best age to start saving, you do want to start as early as you possibly can. Tuition rates are soaring and some people start saving even before they have children. The earlier you start, the longer that money has to grow and outpace tuition increases. However, you do not want to save for college at the expense of your own financial security. You need to be saving for your own retirement and have your debt load under control before you commit large sums of money to college savings. As the saying goes, "Kids can get loans or work their way through school, but there are no loans for retirement." Start saving for your child's college as early as you reasonably can, but don't jeopardize your own financial plans.
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