Reply to How do most middle to UMC families pay for college?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We make high 200s in NYC and our 4 year old has $130k across 529 and brokerage. I’m really strategic with how I use my money and front loaded with $80k during the first year. Then I’m gonna let that ride until college and see where we net out.

As to “how”, we only have one kid. Also rent was under $3k for a long time. Travel hack for international trips every year no problem. No cars because we wouldn’t use them in the city.

We were together for around 5 years before baby and during that time savings stacked up without even trying. To me, that’s the key. Setting money the aside before the kids come. [/quote]

As a fellow New Yorker I’m fascinated to hear how you’re raising a kid while saving for retirement and college with two working parents on a high 200s income. It’s SO expensive here. [/quote]

You move a bit further out.  [/quote]

We live in Park Slope. One key factor is we were not paying more than $3k on housing monthly for over a decade. Many people in our income bracket would be paying $5k+. That's a huge difference. Also, after you get through the first 3 years of childcare costs we have free 3k and 4k.

You really need to question what's a need and what's a want here. For example, many of my parent peers have cars, and they don't even have family that lives close by. To me, that's a nice to have, not a need. I also would never consider needing to live in an elevator building because of a baby. I carried mine up 2 flights of stairs and left the stroller in the first floor landing.[/quote]

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