Reply to Jeff Selingo on people skipping "target schools"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Truthfully, as a slightly higher than donut hole range family---it's hard to justify $85k-90k year at even the top 10 schools.  It's gotten way out of hand![/quote]

If you haven’t saved for it, yes.  But if you’ve been saving you would have 300k+ in a 529 and then you realize, this is exactly why we saved and let your kid attend if it’s their first choice [/quote]

If all you do is save, well, you're not going to have $300,000 per kid. Save and also make risky investments that pay off, maybe.[/quote]

This is your problem.  I mean, just do some simple math...assume you save $10k per year starting when your kid is born.  Take that $10k * 1.08^18 power = $40k after 18 years.  Next year, add another $10k and take 10k*1.08^17 = $37,000.  Keep saving $10k and run the formula and subtract a year.  8% is the historical rate of return of the S&P index...not exactly super risky there.

That $180k = $404k after 18 years.

[/quote]

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