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College and University Discussion
Reply to "Did you folks not do ANY saving?"
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[quote=Anonymous]Based on what I see around here, there are many families in oblivious as to how much they need to be saving for retirement and college. It isn’t possible to live in a very nice home, typical UMC lifestyle, retirement and college savings on 300-400k. Add in private school and it’s a disaster. People either don’t care or don’t realize that the pretax 401k contributions even with a match aren’t enough at this income level. You need a private brokerage account and to put at least 2-3k per month into it. For each child, you need at least 1k per month for college savings at a minimum. This means you either need to sacrifice on a house OR on your lifestyle to make this happen. [/quote]
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