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College and University Discussion
Reply to "Do most people pay for college out of pocket?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Start a 529 when the kid is born. Make monthly contributions. 18 years later = >$500,000.[/quote] Our 529 barely grew 4% because we stupidly put it in a targeted fund. I have since moved part of it to an equity fund. If you put in $1200 per year for 18 years it will not be anywhere near $500K, even at 10% rate. Even at $12,000 per year, at 6%, it would be about $370K.[/quote] Well that is not very smart on your part. Always make the investment choices yourself, never use a "target fund". Up until your kid is3-4 years from starting college you should have 85%+ in stock market/stock funds. Then, based on your risk and how much you need, you can begin to pull back to less risky investments, all while keeping in mind year 4 of college is 7-8 years away. [/quote]
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