How old are your kids and how much do you have saved for each of them for college?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I started DC's fund at 10K when he was born in 2006, then contributed $500K/month the next two years. I got a windfall in 2008 and contributed the maximum amount all at once, which was about $60K back then. Then I had to stop monthly contributions for 5 years. The market timing was extremely lucky because the Dow was at about 8K then. The account has grown so much that I don't contribute anything now - there is enough to cover in-state tuition R&B for 4 years, and I figure if he goes the private route I'll take it from taxable investments.

I'm pretty sure you can fund a whole football teams tuition.

Ha whoops that would be $500/month.

[Anonymous]

Anonymous wrote:7 and 14, Big Fat Zero.

But I have arranged it that I will take off 6 months off of work from my company when each of them finishes high school. Larry will pick up the slack.
We will spend that six months up in Alaska, where I will teach them to fish, to hunt, to ferment meats, and to pickle wild grasses. My uncle has some good land up there - not real farming land, but quiet.

I see which way this country is headin, and I sure as hell know that what I teach them in that 6 months is going to be a damn site more valuable than wasting money smoking pot and drinking funny lemanade in some fruity Ivy leage.

[Anonymous]

6 and 5 year olds: 15k each ourselves, 8k each spouse's parents, 150k each my folks

[Anonymous]

We have 4 children: 6, 4, 3 and 1. We have about $40K per child but that came from inheritance of mine that we decided to set aside for them to start college.

However, as a college drop out, and now full time grad school student who has FORKED her own way through school, I feel like paying for my child's education isn't a responsibility but a gift or a privilege to them for graduating. I've worked my ass off-- paid my own loans, worked, gotten married, had children-- and am still making it without Mom and Dad forking the bill.

We may even, depending on the situation, not even tell the children about the money UNTIL they graduate. That way, they won't be partying on my dime. And, I am 25-- and no that a lot of college is sleeping around and getting drunk.

I am in no way saying that every child will party like I did, just to clarify.

[Anonymous]

whoops, can't figure out how to edit...*know

[Anonymous]

One kid, eleven, $15k in a 529.

[Anonymous]

3yo: $30k

[Anonymous]

Anonymous wrote:We have 4 children: 6, 4, 3 and 1. We have about $40K per child but that came from inheritance of mine that we decided to set aside for them to start college.

However, as a college drop out, and now full time grad school student who has FORKED her own way through school, I feel like paying for my child's education isn't a responsibility but a gift or a privilege to them for graduating. I've worked my ass off-- paid my own loans, worked, gotten married, had children-- and am still making it without Mom and Dad forking the bill.

We may even, depending on the situation, not even tell the children about the money UNTIL they graduate. That way, they won't be partying on my dime. And, I am 25-- and no that a lot of college is sleeping around and getting drunk.

I am in no way saying that every child will party like I did, just to clarify.

I don't intend to tell my child about her college savings. i want her to work as if scholarships are her primary funding options. I paid every dime for myself and have very little in school loans. Never felt like my parents were responsible for college.

[Anonymous]

Anonymous wrote:I don't intend to tell my child about her college savings. i want her to work as if scholarships are her primary funding options. I paid every dime for myself and have very little in school loans. Never felt like my parents were responsible for college.

Wait a minute. It sounds like you intend to NEVER tell your daughter about the savings.....so you can have it all for yourself. Boy oh boy, she never is going to feel like her parents were responsible for college.

Genius: save for the kid's college but keep the money! Why didn't I think of doing that?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don't intend to tell my child about her college savings. i want her to work as if scholarships are her primary funding options. I paid every dime for myself and have very little in school loans. Never felt like my parents were responsible for college.

Wait a minute. It sounds like you intend to NEVER tell your daughter about the savings.....so you can have it all for yourself. Boy oh boy, she never is going to feel like her parents were responsible for college.

Genius: save for the kid's college but keep the money! Why didn't I think of doing that?

Aaaaand so what if they do that? Big deal.

[Anonymous]

DC 1, 4th grade: $27,000
DC 2, pre-k: $21,000

Got a late start but now contributing $500/month each hoping that and the market will get us there.

[Anonymous]

Anonymous wrote:We have 4 children: 6, 4, 3 and 1. We have about $40K per child but that came from inheritance of mine that we decided to set aside for them to start college.

However, as a college drop out, and now full time grad school student who has FORKED her own way through school, I feel like paying for my child's education isn't a responsibility but a gift or a privilege to them for graduating. I've worked my ass off-- paid my own loans, worked, gotten married, had children-- and am still making it without Mom and Dad forking the bill.

We may even, depending on the situation, not even tell the children about the money UNTIL they graduate. That way, they won't be partying on my dime. And, I am 25-- and no that a lot of college is sleeping around and getting drunk.

I am in no way saying that every child will party like I did, just to clarify.

You are quite young, are you planning on more children?

[Anonymous]

Kids are 8 and 11. Saved 250k so far.

[Anonymous]

Anonymous wrote:DC 1, 4th grade: $27,000
DC 2, pre-k: $21,000

Got a late start but now contributing $500/month each hoping that and the market will get us there.

Are you serious? You have $21k for a 4 year old and you think that you have a "late start"?

[Anonymous]

Anonymous wrote:

Anonymous wrote:DC 1, 4th grade: $27,000
DC 2, pre-k: $21,000

Got a late start but now contributing $500/month each hoping that and the market will get us there.

Are you serious? You have $21k for a 4 year old and you think that you have a "late start"?

Washington is a very funny place with little relation to how the vast majority of people live.