A friend of mine in her late 40s hasn't contributed money to a retirement savings plan in years. Neither has her spouse. And the reason isn't that they've been blowing all of their money on things like vacations. Rather, it's that they're aggressively trying to fund their children's college accounts to spare them the stress of graduating with piles of debt.

One of their children is only a couple of years away from going to college. The other is two years behind the first. All told, they don't have a ton of time to ramp up their college savings. And because money was tight when their kids were younger, they got a late start.

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Source Fool.com