Reply to Jeff Selingo on people skipping "target schools"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My daughter has gotten into our state 'flagship' and the 'flagships' of two neighboring states (she's waiting to hear from her 'targets' and 'reaches').  The delta between our state 'flagship' and the private targets or reaches is over $200k over 4 years.  That's a lot of money for anybody.  [/quote]
It's objectively "a lot" of money. But we started 529s early and have had great stock market gains -- so those funds are literally bursting. So I'd rather pay for UMiami (which DD loves) versus JMU (a perfectly fine choice if cost is a consideration or if kid prefers it). [/quote]

I was so impressed when my own kid said, "if I dont spend 100% of the money in my 529 for college or grad school, could I leave the rest for my own kids?"

The answer to this is yes.

My kid took a merit offer at a well known SLAC over a full pay offer at a really comparable-but-up-15-spots-in-a-magazine college and since we didn't use the entire 529, it keeps growing. the 120k she saved is now worth about 250k. Unless the market tanks, she could use the rest on grad school plus have that 35k for her ROTH. I could take some of the deposits out (but not gains) to help with rent in her 20s. She could pay for her kids college without saving a dime.  She could maybe do all of the above.

Literally going to Kenyon (let's say) instead of Vassar (let's say) could fully pay for her retirement and college for her kids. If you didn't have to spend decades saving for either of those things, your QOL could be very different.[/quote]

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