Reply to Help me prepare…going from 3 to 4

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How are you going to pay for college?[/quote]

Not OP but parent of 4 kids here.  It's a mix of things.  First, my father opened 529s for each child and is regularly contributing.  His trust directs his trustee to make sure each account reaches $200K (should he pass away before fully funding each account).  He's also opened an UTMA account for each kid with about $50K.  My FIL opened an UTMA account for each kid with $30K.

I separately opened my own 529s for each kid.  I super funded each one at $75K at birth.  That set us on a good foundation for the first five years.  Then we contribute as needed.  I don't want to overfund, and the beauty of having four kids is that if one gets a scholarship or takes a path other than college, I can just redirect those 529 funds to another sibling.

We have over $1M in equity in our home, so that's a nice back up plan if needed.

We also own a lot of rental properties worth maybe $3 or $4M in real estate value, I could sell one of those if needed - especially if one of my kids goes to grad school and I don't want them to take on debt.[/quote]

You don’t owe this explanation to anyone.  Honestly with the wide range of sky is the limit incomes in this area I don’t know why anyone doubts that if they can afford 2 children, many can afford 4.  Also, I say this as someone will will be able to pay for college 100%, but I’m skeptical of the idea that you shouldn’t have a child if you can’t pay for college.  DCUM is an UMC/wealthy bubble but that would squeeze a lot of real people out of have even 1 child.  Also…. Not everyone goes to college.[/quote]

No they don't but trade schools cost money to you should be paying for your kids  post high school education .and not hoping they get loans and scholarships having a bunch of kids or e even one kid because you want one and can't afford it is friggin selfish. You wouldn't get a dog you couldn't care for it should be the same for kids [/quote]

I guess my point is that not everyone is from the same economic demographic.  I generally agree with trying to maintain or improve your standard of living when it comes to your children.  That’s not going to look the same for all families.[/quote]

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