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

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[quote=Anonymous][quote=Anonymous]Why did you gift your parents the money instead of just investing it yourself? This makes zero sense. You gifted. Indy with the expectation that it would be returned with interest? The hell you talking about Willis?[/quote]

Yeah, foolish move in hindsight. We did this because we wanted to incentivize my parents to have some stake in contributing to their grandchildren’s education. Our kids were unaware that we gifted the money to make it happen. We were hoping that if we helped establish the accounts and subsidized a base contribution, my parents would leverage the tax break to throw in some additional money of their own to really supersize the account. For the last several years they’ve even been old enough to be exempt from the $4K VA tax cap. These are the same grandparents that like to host holidays and treat our extended family to vacations while asking me and my DH to foot all the bills behind the scenes. They very much insist on being acknowledged and respected as the matriarch and patriarch of the broader family. [/quote]

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