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Reply to "Does everyone on here with kids applying to top 50 schools really have the $80K per year to spend?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How does $210 a month for several years in a 529 plan get you to affording 80k/year? Most 529 plan offerings aren’t that aggressive. We have a 529 plan that we started 10 years ago at 500/mo and now at 1500/mo. The balance now is nowhere near 320k and not will be in 4 years when DS starts college! [/quote] We save about $3000 per month, per kid. Since we bring in $40k per month, and live in a house we bought for $500k, the finances work out. [/quote] At your income level (likely north of 600k) you can even pay as you go. I was talking about the PP who mentioned saving $200/mo or so in a 529. 400k over 4 years is a lot by any objective view. And for DC residents even state schools aren’t much of a bargain. [/quote]
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