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Reply to "Paying for college $75K"
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[quote=Anonymous][quote=Anonymous]Please don't do that. 3X $75k invested and your child will never have to work again after 35. They'd rather have that and a state school degree than working til retirement.[/quote] A lot of 18 yr olds cannot understand the impact of $150K student loans. I ran the numbers with my DC and showed them how long it would take to repay the $150K assuming a $140k job. They don't understand how taxes work; they see $140K, and think big money, but then you show them how much they will deduct in taxes, and they realize just how much their take home really is. Then you show them the repayment schedule, and how that will impact their ability to save to buy a house. Run the real numbers with your kids.[/quote]
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