s/o the 250-400k income thread...what are you saving each month?

[Anonymous]

Anonymous wrote:We started at $1000 a month per kid from birth but bumped that up to 1250 about a year ago. The kids are almost 8, 6, and 4 and there is ~ $250k split between three accounts.

I'm actually thinking about tucking an extra $5k into their accounts at the end of the year, assuming bonuses were good. They need the money more than we do. I'd actually like to see all three go to grad school and if they do I know they'll end up using all of the money (and then some).

Hmm. $20k a year seems like overkill to me. Does it seem like over doing it to anyone else?

[Anonymous]

Anonymous wrote:"Since the idea that we should all be saving "four figures" each month came up a few times, if you want your kids to be able to attend a selective private college. What are you saving? What is your HHI? How much do you have total so far and how old are your kids?"

We started saving $300 per month for each child when they were born. We stopped saving in college earmarked investments when our older son was a junior in high school and had $140,000 in his 529. We just stopped saving now that our daughter is a freshman in high school and has about $120,000 in her 529 plan. The idea is that the 529 plans pay everything if they go in state public, and we'll pay from general investments if they go private.

Our HHI was $180,000 when we started saving in 2000. It's now well over $400,000.

That is incredible. Saving 400k @ 180k HHI over 16 years. What's your secret? How much, in avg, did you save per month to get there?

[Anonymous]

Anonymous wrote:

Anonymous wrote:"Since the idea that we should all be saving "four figures" each month came up a few times, if you want your kids to be able to attend a selective private college. What are you saving? What is your HHI? How much do you have total so far and how old are your kids?"

We started saving $300 per month for each child when they were born. We stopped saving in college earmarked investments when our older son was a junior in high school and had $140,000 in his 529. We just stopped saving now that our daughter is a freshman in high school and has about $120,000 in her 529 plan. The idea is that the 529 plans pay everything if they go in state public, and we'll pay from general investments if they go private.

Our HHI was $180,000 when we started saving in 2000. It's now well over $400,000.

That is incredible. Saving 400k @ 180k HHI over 16 years. What's your secret? How much, in avg, did you save per month to get there?

I read this that PP's HHI was now well over $400k.