When Flying Toward Retirement, Secure Your Own Mask First

Parents often feel compelled to help their kids pay for college, but when that could result in you moving in with them later, you should put your savings first.

A young girl and her mother together hold up a toy airplane like it's flying through the air.
(Image credit: Getty Images)

I’ve had a handful of flights recently that have gotten me thinking. No, not about flying, but about finances. (Go figure, right? These are the perils of the biz.) You see, if you’ve flown any time in the past — well, ever — you undoubtedly have heard the preflight routine the flight attendants go through. Most of us don’t even pay much attention to these wonderful people. Which, of course, is ironic, since the entire routine is about saving our lives in an emergency.

In any event, they run through their instructions, such as keeping your tray tables up and staying buckled in. They talk about how your seat can be used as a flotation device, although I’m still not sure how that works. Then they get to the grand finale — in case of an emergency and the face masks deploy, please put your face mask on before helping others.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Andrew Rosen, CFP®, CEP
President, Partner and Financial Adviser, Diversified, LLC

In March 2010, Andrew Rosen joined Diversified, bringing with him nine years of financial industry experience.  As a financial planner, Andrew forges lifelong relationships with clients, coaching them through all stages of life. He has obtained his Series 6, 7 and 63, along with property/casualty and health/life insurance licenses.