How much money do you have invested for college for your kids?

[Anonymous]

We have a 4 year old, and have zero saved.

Between a mortgage, retirement and daycare/preschool, there's not much left over.

[Anonymous]

4 yo - 30K
5yo - 40K

my husband has the gi bill, which we will pass on to one of the kids. that will pay equivilent of instate tuition for 36 months, plus the potential for more through the yellow ribbon program. one of the benefits of all those trips to Iraq and Afghanistan

[Anonymous]

OP here- wow- I'm surprised I got that much feedback but thank you.. I will look into coverdell as someone pointed out- and I'm not sure if what we have is enough but I'm just nervous about having enough with the market swings- I did move everything to super boring bonds etc. but it was depressing to see one year we put in let's say 20K and it was at 12K at the end of the year. And we did select age appropriate investments. I love the feedback so thank you.

[Anonymous]

Anonymous wrote:Not saving. Recently inherited $450K.

Which should about cover you for 2 kids. But wouldn't it be more tax effective to put some of that money in 529s?

[Anonymous]

kids ages 6, 3, 2 -- saved 300K, including money provided by relatives as part of estate plannig (150k provided by us).

Just providing another perspective. All in 529s.

Yes, we are blessed.

[Anonymous]

Anonymous wrote:OP here- wow- I'm surprised I got that much feedback but thank you.. I will look into coverdell as someone pointed out- and I'm not sure if what we have is enough but I'm just nervous about having enough with the market swings- I did move everything to super boring bonds etc. but it was depressing to see one year we put in let's say 20K and it was at 12K at the end of the year. And we did select age appropriate investments. I love the feedback so thank you.

That's exactly why we choose to start with a prepaid plan and when that is paid off, then go to another plan. At least we know at a minimum we can get the state university assuming they get in and then if we can pay for more/they do better, we can transfer that money to another school. Its a difficult choice and you also have to consider how much tuition and other expense are going up each year.

[Anonymous]

$20K for a 17-month-old.

[Anonymous]

Anonymous wrote: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.

That's great - not too bad. Thank you for satisfying my curiosity and best of luck to your DCs in school.

[Anonymous]

Anonymous wrote:OP here- wow- I'm surprised I got that much feedback but thank you.. I will look into coverdell as someone pointed out- and I'm not sure if what we have is enough but I'm just nervous about having enough with the market swings- I did move everything to super boring bonds etc. but it was depressing to see one year we put in let's say 20K and it was at 12K at the end of the year. And we did select age appropriate investments. I love the feedback so thank you.

OP - you need to read up on investing. By moving the $12k to bonds, you locked in your losses. If you have a long-term horizon, you need to think and act long term, not short term.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here- wow- I'm surprised I got that much feedback but thank you.. I will look into coverdell as someone pointed out- and I'm not sure if what we have is enough but I'm just nervous about having enough with the market swings- I did move everything to super boring bonds etc. but it was depressing to see one year we put in let's say 20K and it was at 12K at the end of the year. And we did select age appropriate investments. I love the feedback so thank you.

OP - you need to read up on investing. By moving the $12k to bonds, you locked in your losses. If you have a long-term horizon, you need to think and act long term, not short term.

I looked up the return rates since we move the funds- the other more volatile funds fared less and have been negative for the past year.. our conservative ones have increased at a higher rate and are up this year.. we'll go back to other investments, but had we stayed were we were - we would be out even more. I guess I need to read more on investing.

[Anonymous]

I am from maryland and I will use the dream act and grants because I make no money and am not from this country

[Anonymous]

Anonymous wrote:if you put 1500/month into a 529, doesn't that take you into gift tax territory? past 13k?

If there are two parents, it's $13k per parent ($26k total).

[Anonymous]

Anonymous wrote:

Anonymous wrote:if you put 1500/month into a 529, doesn't that take you into gift tax territory? past 13k?

If there are two parents, it's $13k per parent ($26k total).

That's what we do: $26,000 per year per child.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:if you put 1500/month into a 529, doesn't that take you into gift tax territory? past 13k?

If there are two parents, it's $13k per parent ($26k total).

(per child)

That's what we do: $26,000 per year per child.

Ok- so when do you stop? what is the max for now to contribute? (per child- please include age so it helps to know)

[Anonymous]

Anonymous wrote:$200 or so for an almost 2 yo.

Wow! you must be all set for retirement if you can invest this much for a 2 yo. I envy you.