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Money and Finances
Reply to "We are not saving for college"
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[quote=Anonymous]People might pule at this suggestion... but we can't afford to put money into a 529 either right now. What we did - realizing the value of compounded tax free interest - was to take 30,000 from our retirement (not 401k, just brokerage) and put that into the 529 when kids were 1 yo. We figure even if we don't touch contribute another penny for 5 or 6 years it should be enough to be a decent nest egg by the time they are 18. Granted, this assumes you even have the retirement funds to do this, but it was a way for us to feel good about what we did... and since we took the money from a non tax advantaged account and put it into one, it seemed to make sense. Plus well enjoy the deduction for years to come. Also in that daycare boat.... Hoping things improve when kids are in school [/quote]
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