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Money and Finances
Reply to "College aid: Do retirement fund and equity in primary residence count?"
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[quote=Anonymous]I didn't have a 529. My dad worked with a financial planner to build enough assets that could be sold if necessary to fund college. If they weren't used for college, they stayed for retirement. I ended up getting a full scholarship for track. I was the youngest of 4 and the only one to attend college. That 529 would have been wasted money. I would worry more about your own retirement savings, pay what you can out of pocket, and let the scholarships and subsidized loans do the rest. Be upfront with your child about the fact that they will be contributing to their college fund, be it by having the grades for the scholarships or by taking the loans. They have their whole lives to make money and pay off their education. You have a fixed amount of time to save for retirement. [/quote]
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