Reply to Tips for saving for college? How much to do you put into your kids college savings acct?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m mystified, op. How have you gotten to a point where you have 4 kids and only now thinking of college.

How much do you make? How much do you want to fund? What is your overall budget?

We’ve got two kids, make $240 and save $700 per month per kid. We will probably bump up to the $14k each year. But I’m not really sure how that’s going to help you. [/quote]

It's not that I didn't think @ it. We have 4 529s.  I think the issue is that I redid the math and realize I could use $500k ++  in college savings and realize I might have $200k.  It's a little late now to 'have less kids' Frankly, I paid for my own college and my husband paid half of his - so the backup plan is they need to get a scholarship or a loan.  We do ok (not DCMUM wealthy/ upper class but ok). The younger ones are pretty young, early elem so I have time to save.  Also there is an investment factor here. I don't know my 529 is making an adequate return.  Should I ditch and manage the money myself?

Also note - every person I know of (not that few since my kids aren't that old) [b]seem to be like - I'm scraping by now bc I'm putting kids through college[/b].  So it seems like a lot of ppl don't have it all saved? 
[/quote]

Correct, because Americans are foolish with their money.

We superfunded each of our kids education at birth with 50k in 529 invest. Haven't put a dime in it since. 10yr old has 123k and my13yr old has 163k.

4 kids. We would have drowned with daycare. Not a chance.  [/quote]

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