How much money do you have invested for college for your kids?
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Anonymous
| 12k for our 4 year-old, but I am about to do another 6k, so it will be 18k by the end of the year. The crappy part is that we deposited the whole $12k within a couple months of her birth, and it hasn't risen at all (and, in fact, dropped for some period). If only time-value of money always worked.... Oh well, we have time. |
Anonymous
| We have about 10K total for two kids, 5 and 7. But we just started saving 1k a month and plan to continue. |
Anonymous
Are you done saving for this kid? |
Anonymous
Seriously - that is fantastic! That's what we pay for daycare for each DC, but I would love to be able to funnel that into college savings! |
Anonymous
| Not saving. Recently inherited $450K. |
Anonymous
| 7:49 here, DC 1 borrows 4K per year and DC 2 3.5K per year, which isn't too bad. They were able to decline unsubsidized loans that were offered. |
Anonymous
Current income. It is a ton of money. But dc was in a private that cost about 30k and so now we just pay it to college and supplement with the college savings. |
Anonymous
Don't they only have $36k at this point? We started to dial back the contributions when kids were in HS and we were close to fully funded. |
Anonymous
$36K for a 2 year old. 15 or 16 years until college even begins. That seems like it should be enough. |
Anonymous
Not if you're using any reasonable rate of return assumption. Even if the money doubles every 7 years (which is itself completely unreasonable) - you're at less than $150,000 when the kid is 16.5. That's not enough to pay for 4 years of many schools at today's prices, let alone what prices will be 16 years from now. |
Anonymous
| if you put 1500/month into a 529, doesn't that take you into gift tax territory? past 13k? |
Anonymous
| $500 for our 1.5 year old. |
Anonymous
| We are doing the prepaid. Its a little over $400 a month and we are about 1/2 paid for a 2 year old. Then, we will do a 529. We wanted to make sure we had something and if we can do more, we very much want to. |
Anonymous
Not finished and not having more kids. DC started public school so we will continue to put away 25k for him except not in the 529. Will continue with the 2k/yr for the coverdell. |
Anonymous
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