Reply to I genuinely don't get saving for college for kids

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[quote=Anonymous][quote=Anonymous]I think it is ironic, that the people on this forum who are most able to save for college in a 529 (this is what DCUM means by "saving for college") could likely afford to cashflow college if they needed to, so probably don't need to amass a small fortune in 529 accounts. 529 accounts are tax friendly and people make so much money, so why not.[/quote]
One thing you're missing, though, is that when people save for college they don't know for sure they will be able to cash flow it when the time comes. My parents saved for college in a tax-advantaged account (pre-529, so this was something they set up with a financial advisor). In the end, they were able to cash flow it, but my dad had a lot of friends who had had health issues and were working less or retired when their kids neared college. DH and I are in the same boat. Our kids are little, and while we could pay for college out of income now, will that be the case in 15 years?

Also, the tax benefits are quite good if you start saving early.[/quote]

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