How much do you put into your kids' 529 (college fund) annually?

[Anonymous]

My kids are 3 and 1 and we have $20k and 10k respectively. Not sure how much to contribute each year? Is there a formula based on your percentage HHI?

[Anonymous]

Nothing. We put some money in when they were born, the market tanked and we lost more than 50%. We'd have been better off investing it ourselves and or a savings account.

[Anonymous]

$4700 a year. 1 child.

[Anonymous]

Our kids have 75k and 50k at 3 and 3 months, respectively. We haven't been putting more in, but will as they get older.

[Anonymous]

We do 10K per year for now, while we're earning strongly. However, i may start moving some of that money into a roth once we have enough for the first two years for each kid because I like the roth plans better, they're more flexible, and if the kids don't end up in college for whatever reason, penalty issues don't apply. I will be eligible to draw down my Roth when my eldest is a junior in college.

[Anonymous]

Anonymous wrote:We do 10K per year for now, while we're earning strongly. However, i may start moving some of that money into a roth once we have enough for the first two years for each kid because I like the roth plans better, they're more flexible, and if the kids don't end up in college for whatever reason, penalty issues don't apply. I will be eligible to draw down my Roth when my eldest is a junior in college.

Sorry, this is 10K per child. HHI is 150K.

[Anonymous]

nothing and will put nothing. college bubble will burst by the time they are in college.

[Anonymous]

Anonymous wrote:My kids are 3 and 1 and we have $20k and 10k respectively. Not sure how much to contribute each year? Is there a formula based on your percentage HHI?

Hi OP - most of the funds out there - Vanguard, TRowe Price, Maryland 529 etc - have 529 Plan calculators. You plug in your numbers, what you hope to end up with, and it gives you an amount that you should invest every month. Of course, there are variables to consider, not the least of which is the market, but it will give you a ball park figure that you can work from. These calculators are free, but they're also sponsored by the funds themselves, so take them with a grain of salt.

Another option is going to a financial advisor who can help you think through what you earn versus what you're saving for retirement and how college savings fits into that picture.

[Anonymous]

DD is 10 months and we have about 4K in her college account. We put away $75 a month for her and plan on increasing that once she's out of day care. Our HHI is $160K.

[Anonymous]

Anonymous wrote:nothing and will put nothing. college bubble will burst by the time they are in college.

So it will be free and you won't have to pay anything?

[Anonymous]

We do $1500/mo., 1 child.

[Anonymous]

We put nothing. Nothing left over after our mortgage and daycare. Maybe when DD is out of daycare?

[Anonymous]

Nothing. And we only have 15 more years left!

[Anonymous]

Also nothing with 2 in college and 2 more to go. Both kids got great packages/aid/scholarships and we expect the same will happen for the other 2.

[Anonymous]

Anonymous wrote:

Anonymous wrote:nothing and will put nothing. college bubble will burst by the time they are in college.

So it will be free and you won't have to pay anything?

that's right. i got 2 ivy league degrees for free so she can do it, too. i am certainly not going to pay $200,000k in today's dollars for some worthless never-heard-of-it degree.