Reply to Is anyone not saving to pay for all of their kids' college?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We're not saving at all towards it but we'll be able to cover it no problem when the time comes. [/quote]

Make sure you fully understand what that cash flow looks like. (Look at the Vanguard calculator!)

We will be full pay. We have two kids and are planning on private for each. There will two years of overlap.  There will be two years of around $180,000 in college expenses. We make $500K a year and that would be huge hit to our post-tax cash flow if we had to just absorb it.  [/quote]

Adding to this.

The tax advantages of 529s are substantial.  Our kids have had huge gains the past 10 years and were not hit during the past few
Months due to being in age adjusted accounts. We also get a Virginia State tax break on the first $4,000 per account. (Each kid has multiple accounts)

In my mind, why would you not save for college given the tax breaks?  Even if you could absorb $80K per kid per year (or $35K for instate), setting up a 529 is easy and saves so much over the long term. [/quote]

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