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Reply to "Parents of little kids: What are your college savings goals?"
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[quote=Anonymous]Retirement first is a sensible goal but what does it mean in concrete terms. What would you consider adequate in order to shift funds to college savings? People earn different incomes so that may not help illuminate the correct decision making process but perhaps sharing what your retirement goal is in terms of multiples of gross income might be informative So for example, we are on track to have 10 times our gross Household income saved by age 65 assuming an inflation adjusted rate of return of 5%. Given that I feel comfortable putting around 6% of our gross income towards college savings We also have 8 months of emergency savings [/quote]
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