Americans with between $50,000 and $250,000 in investable assets are most concerned with paying for their children's college educations, and some are questioning the value of a college education, according to a new study by Bank of America's Merrill Edge Report.

Many of these individuals continue to push back their retirement because they are concerned about the rising costs of health care and funding their retirement. They are, however, taking more control over their finances by communicating with their spouses and seeking expert counsel.

The semi-annual study, conducted by Bank of America through research partners Ketchum Global Research & Analytics and Braun Research, involved a telephone survey of more than 1,000 Americans considered mass affluent because of their investable assets.

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