ETA…I’m not telling you whether or not to buy the recommended annuity. That is not my area of expertise. At all. I’m suggesting you explore options.
I’m not a financial planner…but I do use one. This person has helped my husband and me make some decisions about where to put our money to benefit us while we are working as well as when we retire.
I guess I’m suggesting you find a person who can give you sound financial advice all around. You have living expenses, college expenses, and really it would be great if you could plan for your retirement.
My opinion.
You mention you might have to do the Profile. What does that mean?
Is your child currently a HS senior? I’m sort of unclear about that. If so, are there more affordable colleges on her application list? Did she apply to any schools where merit aid could be a possibility? Did she apply to public universities in your state of residence?