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Ross Marino is...

As a fee-only financial advisor, I work with parents in assisting them with their savings for both college for their children and their own retirement. Ross is missing one important point, in my opinion. Parents are under no obligation to fund their child/children's college education. In light of today's economic conditions, it far more important to save for retirement first...then worry about your child's college education. After all...you can borrow money for college...but you cannot borrow for retirement.

Another option available for parents is to use their contributions to a Roth IRA, if they have one, for college costs. Just don't withdraw any of the earnings. The contributions can be withdrawn at any time tax and penalty free...but not the earnings.

I have the utmost in respect for Ross...so please do not miscontrue my comment as being critical of Ross. He is a very successful financial planner.

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