Reply to I’m really surprised how many people don’t save for college

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Ok, so I guess I’m ‘one of those people’. I’m a single parent that’s made 200+ since my kids were born. I save $1,500 per child per month and - guess what - that’s still not enough.

Why? Why, you ask? Why am I not saving more? Because I want to retire at 62. I want to live in a modest house and travel internationally. I want to support my kids in their (expensive) activities. I want them to live independently at an amazing camp in Maine 4 weeks every summer so they can meet people outside our suburban town. I want to enjoy dinners out with them, and theatre, and fun days at the spa.

So yes, op. My measly $1,500 will not be sufficient and we will not qualify for financial aid. But you know what? I was raised with a work ethic that allowed me to pay off 6 figure debt. This is not what I want my kids to face, but if they do, I’d like to think they have the work ethic and possibly my support to pay it off. [/quote]

Adding to PP's poignant description, I will add that it's a shitty country that makes people choose between enjoying their hard-earned income, and tightening their belts to send the next generation to earn their expensive degrees.

Other wealthy nations subsidize universities and lower tuition costs. The USA should do the same.

[/quote]

Oh geez here we go again. Clueless. Here’s a thought - you could simply take the 15% in additional income tax that you would forfeit in said nameless romanticized country, pop it into a 529 for 15 years and you’d be good to go. Then once junior is in college, you could spend the rest of your life enjoying that extra 15% which you would NOT enjoy in your glorified wealthy nation because you would be charged 45-50% in income tax FOREVER.

Signed someone who has lived in those countries. [/quote]

PP you replied to. Ha! Sorry, I'm FROM a European country and I can assure you that your calculations are wrong. University is free there. My taxes would not be that high. However, my marriage is here, my job is here, etc,and now the kids want to go to school in the US. We are lucky we have the money. But the USA is the "first world" nation that has the most inequitable distribution of wealth, the weakest safety net and no universal access to affordable medical care. It should fix that if it truly wants to be civilized.[/quote]

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