Reply to Middle class & 529

Forum Index » Money and Finances

Reply to "Middle class & 529"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote]How did you do this? Seriously can you tell me your monthly budget breakdown? We have a similar HHI (about 20K less but we're younger) and have three young kids, all still in daycare. We save a lot for retirement -- not quite maxing out but close -- but haven't saved a penny for college yet. Our plan was to throw most of the daycare money into college savings when daycare expenses end, but many people on this board and elsewhere say that between aftercare, summer camps, and other expenses things just don't get much cheaper, which is a scary thought.

How did you manage to save so much? Please inspire me![/quote]

Not the PP, but I put whatever I can into the 529...even if it is just $50 a month.

This year, b/c the market was so great, and the account already had money in it from birth-age 4, we actually earned $4k in investment income alone!   And I was broke this year so I barely contributed.  [/quote]

PP here.  This is what we have done as well.  We started saving in 1997, when DS1 was born and have contributed every month.  Any extras ($1K at the holidays from grandparents, $3K bonus at work) have gone into the funds.  As soon as we got rid of childcare expenses, that amount went in as well.

It is true that we bought our house in 2000 and so paid less than what people pay now.  But diligence pays off, regardless.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics