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Reply to "Paying for College tuition and expenses"
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[quote=Anonymous]It sounds like you had always set aside that brokerage account for college. I have done a similar thing for my SN son because it’s unclear if college will be a fit for him - he’s also starting HS next year. Should he not go to college I want that money to be free for my use without a penalty because there’s no other kids to use it. My income is a bit less than yours, but with $200k set aside (I’m presuming you have retirement elsewhere), you pay the rest out of current income. I’d start setting aside about $15-20k per year now, and you should be good. I have started laddering i-bonds instead of CDs. Right now I’m at about $170k, and I hope to put aside another 15k per year which will make the total around $230k. So at that rate, plus the same 15k per year, that puts me with about $70k per year, and plussing up any difference will be doable. [/quote]
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