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Reply to "If your HHI is between 200-300k, how much will you have saved for college "
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[quote=Anonymous][quote=Anonymous]Per kid? I feel like we are way behind on our 529. We won’t qualify for any financial aid (duh). I think we underestimated college costs. [/quote] Our HHI is currently 290K. Seventeen years ago, when we first started saving $900 per month per child, our HHI was about $200K. We have three kids, so we’re saving about $32.5K per year right now or 11% of our HHI on college savings. Our oldest is a senior and has $302K saved in his 529 plan. DC#2 and DC#3 are equally on track, obviously a bit less since younger. We’re also still pushing about 20% of HHI into our 401k plans with employer matching so I think we’re doing okay there as well (we have right around $1.9M total), mid-40s. So, yeah, between retirement savings, college savings, and income taxes, we’re left with maybe $10K per month NET for all our expenses.[/quote]
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