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College and University Discussion
Reply to "I’m really surprised how many people don’t save for college"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don’t understand saving for college. We just pay for it out of our income. We only make $250 but $60K / year is not that big of a deal once your kid did private school for 12 years. It’s just part of the budget.[/quote] We started saving when our child was born. We now have around $300K in his account. The amount we actually put into the account was around $100K. The $200K in gains are tax free. This is why people save for college. [/quote] Smart plan! Most people would do well for college savings if they just redirect daycare costs into college savings. Your kid will get more out of college than tons of expensive activities as a 6-10 yo. If you start early, the benefits of tax free gains are huge[/quote]
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