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Reply to "How much do you put into your kids' 529 (college fund) annually?"
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[quote=Anonymous][quote=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?[/quote] 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. [/quote]
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