It's already pretty well known that people don't have enough saved for retirement, and that kids are a drag on their parents' retirement savings plans. But a new survey indicates that the situation is about to get worse.
How? Well, it seems that more than half of parents — a scary 56 percent — have not started saving for their kids' college educations, according to the COUNTRY Financial Security Index.
Lest you think that the numbers reflect young parents who haven't yet managed to channel some savings into a college fund, you'd be wrong. It appears that older parents aren't saving for their children's college educations, either. Among those aged 40-49, 52 percent haven't started saving yet. Even 47 percent of those between the ages of 50-64 don't have a dime put away for their kids' schooling.
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