Reply to Tips for saving for college? How much to do you put into your kids college savings acct?

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[quote=Anonymous]I agree with everything above.

I find the one about moving to Europe particularly amusing.

I kind of suck at monthly contributions.  But we shot for $100k contributions per kid and it worked out nicely in our 529s.  The investments doubled and more. After several years of tuition room and board we have truly only decreased the max we had by $20-30k.

If your friends have limited resources and their gifts exhanged are normally purchased at some equivilent of Dollar General of course they should be exempted from any expectations or requests for 529 contributions.  But for those of us that $25 plus gifts would be the norm, by all means suggest 529 contributions.  Over a period of 18 years hundreds of $25 gifts to 529s plus compounding investments gains translates into real money.

At parties there's always going to be tons of games, cakes, ice cream and decorations.  Plenty of fun will be had by all!

Nothing in the birthday parties will be lost by some guests slipping that $25 they would have spent on virtually useless toys and gift cards into a 529 account.

Gift cards are so complicated to use people seldom receive the full value of gift cards in products or services rendered.

It's truly sad the huge money equivalents in toys, junk, and gift cards we threw away when our youngsters were children.

My tale is that we are fortunate and we paid for the majority of the roughly $100k which then doubled through  18 years. However, whenever people gave us cash for gifts either to we the parents or our children it went into the kids 529s.

If you plan well, work together towards a goal and keep your family in tact, planning for and paying for college can be easy.

College education remains the best path to upward mobility in America today.  Please remember that 70% of Americans do not have a four year college degree.  Having a four year college degree gives a kid an employment advantage over 70% of other job candidates in their generation.

There are entrepreneurs and special people who don't need to go to college, but for the vast major of us college is the best path to upward mobility.  Create 529s for your children and encourage those with the means to spend their money on your child's future, not on some junk that will go out with tomorrow's trash.

Granted we are financially secure, but be assured that having those 529s available to pay our college tuition fees every semester is a very nice feeling[/quote]

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