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Reply to "Seeking college savings advice"
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[quote=Anonymous]It is somewhat complicated by the need to estimate the rate of inflation of college costs, and the return on your investment. A simplifying but reasonable assumption would be that you earn the same return on your investments as the rate of appreciation of college costs. That means for a school that costs $40k a year, you would need to invest $160K in today's money to cover tuition. Divide that $160K over 18 years and you would need to save $8900 a year, or around $750 a month in today's money. So for the 0 year old you would start saving $750 a month now, and increase that amount by the rate of inflation every year, and that should get you there or thereabouts.[/quote]
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