Should I save or invest before going to college

[King bell]

There are different factors to consider when deciding on what is the best way to handle saving for college. It's always a personal decision that should be made after considering your individual financial situation, current and future career plans, academic interests and more.

There are also major differences between saving versus investing in this particular scenario, which you need to consider. For one, investing provides a long-term opportunity to save and grow your cash flow, while saving is always fraught with risk. By keeping your savings in an investment vehicle like the Roth IRA or a 401(k) account (which are both tax-advantaged accounts on which you can deduct after-tax contributions), you're not only reducing your federal income tax burdens but also lowering your overall college costs, since the money invested is free of state and local income taxes.

However, investing also comes with its own set of risks. For some, that's a risk worth taking, especially when the end goal is long term financial security. Investing for college may prove to be the best option for you when you consider the long-term value of your savings versus one-time savings or paying with loans or grants.

 

[eldavis]

I think it would be better to do both. Both of them actually have their own advantage, when it comes to saving, it would definitely help in terms of emergency but after spending what happens next? Then in terms of investing, you can definitely increase your income from there but there are cases where investing might not actually go as planned. I would advice you invest and at the same time save as well.

 

[Mastergp]

Many children love depending every financial responsibility on their parent, they usually require everything from their parent this is no good idea, on my own part I prefer that he or she should do both though this would really be stressful no one know when success would come, if one chose to invest before college he or she does not know when success come their way it might take years, and most times problem might result as a result this making it difficult for one to save.
When we save part of the money we earn it could help financially to sort issues that might result from schooling and when we invest too we become self employed at times job opportunity may not be there for one when they are done with college but the business he invested can serve him huge amount of purposes.