Reply to "Fully fund" college... how much?

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Reply to ""Fully fund" college... how much?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We plan on contributing until the accounts hits $500k. Whatever the kids don't use will go the their children.  This is a very efficient way to transfer wealth. [/quote]

What will your children do? They need somewhere to contribute to fund too. Or is the idea that you pay for everything because your descendants cannot measure up? Or because economy has broken and will stay broken for generations so only the beneficiaries of capitalism raiders will have funding?

The money is backflowing in the pipes! [/quote]

What?!?!

Funding 529s for your future grandkids is an excellent way to transfer wealth and avoid estate taxes.  It does NOT mean your "descendants cannot measure up".  It just allows your kids/descendants more financial freedom, so they can purchase a house closer to the job thus enabling more family time, it allows your kids to pick a job that they really want to do even if it doesn't lead to $150K+ salary (think social work, teacher, police, many civil servant type jobs), it allows your kids to take nicer vacations, etc...all without worrying how to save for their kid's education.

We plan to do the exact same thing.  Our kids will likely eventually get $10-15M each (3 kids) when we die.  We feel a much better use of the money would be when they are younger and starting their families, rather than when they are 50-60 and their kids are grown

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