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Reply to "Recommendations for Funding College"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How much do you have saved in 401k/IRAs? I didn't see that listed. If you already have a lot, you could cut contributions (but don't give up an employer match). You can probably also afford to cash flow a lot of the cost of college if you cut back on current expenses. $400k/year is quite a bit to work with. [/quote] DH and I both work full-time and have about $2.2M in 401K/IRA and $70K in an HSA. DH also has a pension from a previous job that will kick in at age 62 (maybe?) that is worth about $3200/month but not COLA. We’re mid-40s, so I think we could cut 401k contributions for a few years, as we have at lot being compounded already. This could free up maybe about $40K gross…don’t want to cut all and lose employer 401k match, though. [/quote] Yeah -- stop finding retirement for a while, and/or also just cut back on spending a lot. [/quote]
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