SGL Live on WGN 9 News – Financial Crossroads for Graduates

SGL Financial’s President, Steve Lewit, recently joined WGN 9 News to share practical tips for parents looking to support their graduates while still staying on track with their own retirement goals.

Here’s what was covered Live on WGN 9 News:

• It’s easy for parents to overextend themselves on college costs, but doing so can come at the expense of their retirement security. A key point to remember is that while you can borrow for education, you cannot borrow for retirement.
• Families facing funding gaps should avoid panic and explore alternatives such as community college, scholarships, work-study programs, in-state or lower-cost schools, and honest conversations with their children.
• For student spending money, set a realistic, budget-based allowance and consider providing less rather than more to encourage financial responsibility, money management skills, and independence.