No. of Recommendations: 7
Hysteria - the government will confiscate your IRA? Stop watching the news and reading people on the internet and calm down.

Look - you can have whatever priorities you like. At your income you can save for both. It's great to pay for your kids education and spare them loans (my parents did), and you should definitely be saving for retirement (my parents did, and I do).

If you are tired of saving and just want to blow your money because you are in a snit over some imagined future, have at it. But it's foolish (with a small "f"). Having money in the bank at retirement will allow you many more options than not.
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