Reply to how am i doing re: college savings?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My daughter is entering 8th grade this year. I have 80k saved in her 529. My hope is to pay for at least 80% of her post-high school education. Is this enough for a decent appreciation over the next 5 years, or do I need to keep going and save a bit more?

I also have a rising 1st grader. Only 30k in his 529, but a little less worried, since in theory, I have more time to save.

I have a working poor background and my financial literacy isn't great, though I try to educate myself. If I do nothing else, I want to give my kids a little "leg up".

So this isn't a brag post, just looking for a quick gut check (and maybe reassurance that I'm [i]mostly[/i] on track.

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well if that first grader gets in to a great school like NYU, Georgetown, Villanova, Fordham, UPenn, Harvard blah blah blah they will need 500K to graduate. Minimum more likely 600K. A small handful of schools all in our pushing 100K now. The 1st grader you need to do 10K a year starting now. Maybe 100 percent stocks for next 11 years. Then slowly scale down from all stocks at 11 to all short term bonds/money markets by 21         [/quote]

There is no way the OP will have enough for $90K+/year schools (without merit/FA)  They are doing well for in=state options.  Should have $25K/year (or a bit more).  Add in the kid working/contribution of $10K and kid takes federal loans and you have $40K, which covers most in-state schools.

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