Reply to Paying for college $75K

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[quote=Anonymous][quote=Anonymous]OP, depending on your fixed expenses, you can cash flow that our of your income if you live very cheaply for the 3 years your kid is in college.  If you can get a year jump on that, even better.  6 month jump would of course help too. [/quote]

Agree with this - but you need to make big adjustments to your life, if you are not saving a lot right now. It's probably a good idea to do this anyway, because it doesn't sound like you are saving a large enough portion of your income for retirement. Start now, take the first three years to cashflow your kids college, and then when that's over, you should be saving for retirement. Yes, you can lower your 401K contributions, but look at your housing. Maybe you don't need to live in NW DC or Bethesda anymore (not sure where you live). Nobody can tell you where to do this in your budget without an accounting of where it goes now. What is your net income? How much is spent on car, housing, tuition (which certainly can be moved over to college tuition, if that's what you're doing now), groceries, debt, vacations, etc. I live on $100,000 net per year with my husband, and we take vacations, eat well, etc. We downsized and own our house in a lower income area (which I love) with no mortgage. We could have done a HELOC too. But we also had significant 529 savings, so we were needing to cash flow a much smaller amount.[/quote]

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