This week thousands of high school students are graduating around the country. Funding a college education is likely the largest bill parents will face, next to buying a home. Public schools now average $18 to $20 thousand per year, and private universities are $40 to $50 thousand, and up. The decisions you make will not only impact your children, but your retirement as well. On the Lifetime Income Series this week Jim and John look at strategies for striking a balance between college education and retirement goals. Jim discusses the particulars of the 529 Plan, which according to studies is an underutilized but popular tool by the families that use it. Jim discusses the main advantages and disadvantages of 529 Plans. The guest this week is Jonathan Clements, a writer for the Wall Street Journal. Jonathan and Jim discuss specific strategies for those that are close to retirement, as well as the advantages of dividend-paying stocks over bonds, once in retirement.