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Reply to "How do people fully fund 529s"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Expensive schools cost about 70k all in. I realized that once we started making 300k it was possible to fund as you go for 1 kid if need be. If you have more then 1 then hopefully they are 4 years apart or get your household salary up to 400k. Also never pay for a PHD, any good programs they give funding for the student.[/quote] What on earth are your expenses if you think you cannot afford 2 kids in college on $300K.[/quote] Taxes and retirement savings? $300k = ~$160K take home. If you can afford two kids in private college with $160K take home, I'd be very impressed. I have no idea how you survive after paying property taxes, groceries, utilities, etc. [/quote] If you save and cut out the retirement savings and private schools are important to you, then its plenty. I would hope at that income level your house would be paid off by the time your kids get to college. We live on far less than $160 take home and managed to save for college. I don't care about a private college nor do my kids. Our house will be paid off before high school. We pay cash for our vehicles. Life is about the choices you make. If its important to you on $300K income you can afford two kids in private colleges.[/quote]
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