To understand the financial values and concerns of today’s families, check out a thoughtful new survey published by T. Rowe Price. It is the "2015 Family Financial Trade-offs Survey" and you can see a summary of findings here: http://www.slideshare.net/TRowePrice/2015-03-final-tradeoff-deck

The 2,000 parents who participated in the survey were selected because they have a retirement savings account and at least one child age 15 or younger. The participant pool was equally divided between men and women.

Here are a few high-level takeaway points:

• Couples therapy – The most basic goal of effective college planning is to achieve agreement between spouses. Sixty-seven percent of respondents with spouses/partners said they disagree about money matters in general occasionally or frequently; 46% often don’t see eye-to-eye about how to save for kids’ education. A financial advisor can be an effective mediator in resolving money-related differences between spouses. Yet, only 39% of respondents say they currently have a paid advisor.

• Separating retirement and education – Although most parents are saving for both college and retirement, the same funds may be earmarked for both. Thirty percent of parents say they are saving for college through their own 401(k)s – almost as many (31%) as are using 529 plans. Another basic planning goal is to establish separate savings accounts for college and retirement.

• Focus on women – Women are more likely than men to feel overwhelmed by financial pressure (68% vs. 58%) and be concerned about running out of money in retirement (63% vs. 57%). They are less willing than men to rely on debt for personal or educational needs. Women need information about the choices available for education saving. Once they are informed, they are likely be the decision-makers for new college savings programs.

The survey confirms that college education remains a primary financial goal for most U.S. parents. Ninety-one percent believe their kids will go to college, and 62% say that putting money into a college education is a better investment than savings for their own retirements. Increasing parents’ confidence about reaching college savings goals still can be a catalyst for creating strong long-term client relationship.