How much to fund 529?

[Anonymous]

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

Says the person sending their kid to some State school. In my household we teach our kids to aim high.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

Says the person sending their kid to some State school. In my household we teach our kids to aim high.

lol

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

Says the person sending their kid to some State school. In my household we teach our kids to aim high.

What an idiot

[Anonymous]

I would stop. We don't intend to pay for grad school. Stopped funding the 529 when it was clear we had enough to cover in state schools. We continued saving the same amount but put it in our regular brokerage account so we can use it for other things, e.g. gave DS $15k towards a cat when he finished college. One kid went to an in-state public and the other OOS with enough merit aid to match in-state cost.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

Says the person sending their kid to some State school. In my household we teach our kids to aim high.

What state are you in?

VA has: UVA, VT, WM…just to start.

[Anonymous]

You can now use up to $20k from 529s for private school tuition k-12 as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our kids are on the other end. One of them went to a $90k+ school, the other received merrit aid at a less expensive school, and used the balance for grad school.

There's no such thing as too much, because you can always change the beneficiary - keep it your kid's name until they have kids - now you're funding generational wealth

Not everyone wants to do that. In fact, most people don't.

Not everyone is financially able to do that.

There, fixed it for you.

No shit, Sherlock.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our kids are on the other end. One of them went to a $90k+ school, the other received merrit aid at a less expensive school, and used the balance for grad school.

There's no such thing as too much, because you can always change the beneficiary - keep it your kid's name until they have kids - now you're funding generational wealth

Not everyone wants to do that. In fact, most people don't.

I suppose. Most people – such as yourself – are selfish and lazy and would rather buy themselves a mid-life crisis mobile or Mediterranean cruise than fund their grandchildren’s education.

The mentality of not wanting to over fund a 529 = buying a cruise is bananas.

[Anonymous]

Anonymous wrote:

Anonymous wrote:That much money should never be in a restricted account. The time wasted trying to figure out where it needs to go is not free.
The time it's not in non-restricted account growing without fees, is money lost.
Kids never learned to grow the money and neither did you. 529 did it for you with lower return.

Depends on what you did. American funds are solid. No lower return.

+1000

And you get the perks of 15+ years of tax free growth. Stupid to pass the tax free growth up imo

[Anonymous]

Anonymous wrote:Now I understand why colleges will NEVER lower tuition because you have people with 1/2 million saved and eager to spend it.

I just hope these kids whose parents spent this fortune don't end up driving for Uber or as baristas

Don't worry--most won't. When your parents are smart enough to save for college the kid normally knows how to use college to their advantage and become a self sufficient adult

[Anonymous]

Anonymous wrote:

Anonymous wrote:Our kids are on the other end. One of them went to a $90k+ school, the other received merrit aid at a less expensive school, and used the balance for grad school.

There's no such thing as too much, because you can always change the beneficiary - keep it your kid's name until they have kids - now you're funding generational wealth

Not everyone wants to do that. In fact, most people don't.

But if you think your kids might want to attend one that costs 90k then the $200 k is not enough

[Anonymous]

Anonymous wrote:Quick question - would love some advice.

Two kids. Both in high school - one is a junior, one is a freshman. Their Virginia 529s are funded at about $200k each. Not sure if they will go to state schools or private. Does it make sense to keep putting money in at this point, or do we risk overfunding?

If they go private or OOS that will not be enough.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

Exactly! While we sent our one kid to a 90k+ school, had we not had the money readily available (and can truly afford it), they would have been at our T50 state U for $25-30K or a similarly ranked private (as the 90K one they are attending) that was same cost but gave them $42K/year of merit (so 45-47K cost per year not 90k).
Had we needed it, they could have found great places to attend for $20K.

Attend where you can afford, it does not matter the rank. What matters is what you do while at school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Now I understand why colleges will NEVER lower tuition because you have people with 1/2 million saved and eager to spend it.

I just hope these kids whose parents spent this fortune don't end up driving for Uber or as baristas

Don't worry--most won't. When your parents are smart enough to save for college the kid normally knows how to use college to their advantage and become a self sufficient adult

Hmm I am not sure about that lol.