Reply to Saving for college vs paying off house

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Your husband sounds crazy.

Show him the actual dollars and cents on paper.  I assume the $4k is for the state tax benefits? Show him that.  Show him traditional growth of a home vs. growth of investment accounts over time.

The mortgage rates are SO LOW and housing can never be thought of as a sound investment. I can't imagine the logic behind that kind of strategy.  [/quote]

OP here. I have ran the numbers for him.

I've shown him my return on my Vanguard account and that we should budget a 7% increase, but he just talks about paying off the mortgage. He keeps saying nothing will get us 4% interest every year (even though I show him we can do better). If anything, it's better to invest and then when we have a lump sum to pay off the mortgage, do that. We get nothing for paying on our mortgage early right now.

Yes we're in VA and the 4k was for the state tax benefit. W[b]e paid off 80k of his student loans and he thinks it was easy and no big deal and that our kids should do the same. [/b][/quote]

He is selfish and ignorant.

I would have a major issue with this.  Major.  On a HHI of $180K at this (early) point in your parenting, there is NO reason not to be saving aggressively for college.  None.[/quote]

And your kids are going to be spoiled and entitled. Ever heard of the GI Bill? Didn't think so. The biggest losers I know had their parents pay for their college.[/quote]

Students whose parents don't pay or at least help with most of the costs need to take out loans, and statistics make it clear that big loans hamper young adults in their efforts to create financial stability.  They have difficulties buying houses, getting married and having kids, and saving for retirement.  This is not my opinion.  It is a documented fact.

But sure, make your kids get into debt up to their eyeballs by the time they are 22.  Make it an object lesson (I guess?) for them.[/quote]

My mom not only had me pay for college she charged me rent, did home repairs, paid for own car and insurance, my clothes and food. I graduated on time with no loans. The two four letter words kids hate are work and home. Go to locall college, live at home and get a job. No loans needed. University of Maryland 10k tuition, cheap. Easy to make that [/quote]

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