Reply to Advice re underfunded college savings & well funded retirement

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Any chance those medical bills will be any lower in the future? Or is that pretty much guaranteed? That's where all of your money is going. [/quote]

Unfortunately it doesn’t look that way; just got another poor prognosis yesterday which perhaps motivated me to write this post.

[b]Kid does not understand reality[/b]; will reach out to school college counselor. [/quote]

Kid doesn't want to understand reality.

Even a 16 year old is capable of understanding that money is not an unlimited resource.  School him in that concept and repeat it often.  [/quote]

My 9 year old understand it for college.  We have talked about it and that we want to pay for it in full and what college costs.  We talk about it as sometimes its a choice of putting money away or doing something fun like a great vacation like his friends are doing.  Gratefully he choose college as he knows its important to us and his future.[/quote]

We are also paying for our kids' education in full.  We cannot, however, pay $75K+/year for both kids without compromising our own retirement and other priorities.  Like OP, we are in our late 50s and we will not jeopardize our collective security in the name of a brand-name school.  Our kids will graduate from excellent schools with no debt and parents who need no help in retirement.  That puts them way ahead of pretty much every game.

It is not just about making good choices.  It is about the reality of annual tuition hikes that far outpace inflation and what we do in response to that.  Like you, we value education.  We do not, however, value name-brand schools.[/quote]

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