Reply to Are we suckers for diligently saving in our kids' 529s?

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[quote=Anonymous][quote=Anonymous]You can take your original contributions out of a Roth IRA tax-free any time.  Only the earnings generate the 10% tax.[/quote]

We don't do 529's either and have IRA's and other investments instead.
I think of it this way:
When I am retirement age, there is no one lending money to me. 
 An 18 year old adult,  who is just entering their working life as I am ending mine and is able to get loans for school and a lifetime of earning money to pay it back, is going to be in a much better position than me.
I just can't have $200k (for example) tied up in a college account not knowing that I won't be ill, disabled and have no way to get that money for my needs or the needs of my husband.
Perhaps because I work in healthcare and see the unanticipated and unplanned for disease and debility that I am cautious, but the fact that the money in a 529 has to be used for college, it doesn't seem prudent to earmark such a large amount to a single thing.
And if my husband is disabled at 60 and needs round the clock care at 65, I'm sure not sending my sisters kid to college if mine decides not to go.
Also, if my child becomes ill suddenly or disabled or injured and can't go to college, no matter how bright they were through school, it doesn't make sense to have that $200k just for college when we could use it for medical care and care for that child.
Again, with a child that continues to need my help, I am not sending my sisters kid to college!
(I keep hearing that as a common refrain when it's pointed out that the money has to be used for college,"just send your nephews then! What?)

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