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Reply to "Help me allocate funds for retirement & college"
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[quote=Anonymous]What percentage of your income is "maxing out" retirement? A good goal is 15-20%. Would the IRA contributions be deductible? If not, and the 529 contributions are, then it may make sense to put more into the 529s. Do you plan to save for state or private college? Do you expect the kids to pay for any of it themselves, or quality for financial aid? $500/month is only going to get part of state college paid for (unless they go in-state). Personally, my goal is $1000/month, but that is based on my values of what educational opportunities I want to give my kid.[/quote]
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