Reply to If you know you’ll be inheriting a significant amount

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]15:57 again. Also, what is a “fully funded” 529?  In-state flagship is 30K a year. SLACs are 77K a year. Some unis are 85-90K a year. For 2023. Who knows what it will be when your kids go to college! [/quote]

$250K in the account with about 10 more years of growth to go. It’s definitely fully funded. [/quote]

Ha - I used to think this. Let’s look at the stats.

Just picking an example, Duke: https://financialaid.duke.edu/how-aid-calculated/cost-attendance/

$84,517 excluding transportation, spending money, dorm supplies, clothing, gas, phone, insurance (health, car and dorm)

X 4 years = 338,068

Grad school, increased rates, more expensive school, etc.

I used to think like you. [/quote]

Huh? At an average 4% rate of return, pp will have $370,000 in ten years. They’ll be fine. [/quote]

In 10 years, it won’t cost $340,000; it will be more. And of course there’s grad school. It’s a massive amount, but it may or may not be enough. [/quote]

Just stop.  The average parent isn’t spending that kind of money on college and especially not grad school.  Most people don’t even attend grad school.  Big spends like you do NOT get it.

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