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Reply to "Does this seem like sound advice for paying for college?"
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[quote=Anonymous][quote=Anonymous]We also have 14 and 16 years until our kids start college. We started saving for college a few months before each kid was born. Our mortgage is about $410k. We will most likely pay the house off early (close to when out oldest starts college) and then have the extra $2400 a month we pay now available to put towards college. I think everything is a balance. We don't want to be risky with the college savings, so we choose to pay extra towards our mortgage, but also put money into the 529s, even though the return may not be great. On a side note, anyone feeling bad for the child with a lot less money than the other? We have invested about the same amount for each child, but because our older child hit the market better, she has much more than her brother did at the same time. How do you plan to deal with this? I think we are hoping to pay for all of college for both, so maybe it won't be a big deal, but if there is any left is it fair for one to have a bunch of money left over while the other has none (assuming costs were roughly the same)?[/quote] I beliebe you can use that money however you want - it's yours, not theirs. I wouldn't even tell them there is a disparity. [/quote]
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