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

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[quote=Anonymous][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]

The issue is someone making 1-5 you do.  You can save. They cannot. [/quote]

Assuming you mean someone making much less than I do?  I absolutely see that.  100% agree that this level of saving is not what the vast majority of parents can do.  I fully support means-tested programs for students of low-income and middle-income families.

However, for parents that are high income and planning to fund out of cash flow, I worry that 1) they do not fully realize how expensive college has become and 2) they are not taking advantages of substantial tax savings from 529.

Every parent should visit the Vanguard College Calculator to get an idea of how much they should be saving each month to prepare to fund whatever percentage of college. (Ideally should start to plan while expecting.) Don’t be caught surprised!  It’s totally fine if you prefer to go in-state or only find a portion of undergrad.  The key is INFORMATION so that you can make a well-considered choice for your family and your values.

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