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[quote=Anonymous]Our oldest child is starting college in two years. Up until two years ago, we weren’t earning enough to save much beyond 10-15 percent to retirement. We always put $ into a 529 for each kid but I’m talking $150 per month. We currently max retirement savings and save $500/kid in each 529.

Anyway, we now have enough in our eldest’s 529 to pay for a year at a public with DC tag, if we’re lucky. DH will turn 59 the year our kid starts college. This is just background.

[b]In making up the shortfall, would it be terrible to take some money out of DH’s 401k?[/b] Not as a loan, but as a permitted withdrawal after he turns 59.5? Assume DH won’t retire until at least 67, and that his workplace permits 401k withdrawals by current employees. This would be probably 10-15k per year for 4 years, and would let us avoid taking out any loans for DC’s college. We’re on track currently to have 5 million saved in our 401ks by the time I retire in 20 years (I’m 47) but obviously this would affect that. Just trying to think things through and I’d appreciate any advice. Please, no “why didn’t you save more???” comments. We have truly done what we could. [/quote]

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