Reply to Tsp hardship withdrawals RIF

Forum Index » Money and Finances

Reply to "Tsp hardship withdrawals RIF "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am confused about the $5K in tuition a month while there is $300K in the 529.  I am also confused about $500 a month for health insurance when one of you is a federal employee.  [/quote]

I am too! The 529 is there for college tuition. Even if you split it into three, there's still some money there for the first. Your savings are more than OK (seriously- almost a year's worth of expenses). I'd hold off on making any decisions until you have more information. I'd talk to the financial aid office and see what kind of aid you might get though.[/quote]

We were paying out of cash flow as $300 won’t pay for all 3 kids to go to private college, and we may be retired by time youngest goes. 
 [/quote]

You’re 50, one of you is losing your job, you’re talking about sending 3 kids to private with $300,000 total in 529s, and you may be retired by that time.

Is this a troll post? It has to be.

[/quote]

I'm a PP and I'm definitely thinking troll at this point too. Nobody thinks they can put 3 kids through private college on $300k income with only $100k for each kid in 529s, while also nearing retirement age, with not much in retirement savings. This is all made up. [/quote]

For retirement, we had $1 million in TSP, a pension with 30 years for each of us, and then we would sell the house. That seemed like a reasonable plan.[/quote]

Sending a kid to private college on a $300k income was not a “reasonable” plan, it’s the root of most of your issues right now. But for that, your situation would not be as dire. 
[/quote]

So no one is going to private schools unless they make $400k???[/quote]

Not with 3 kids. You can, but you’ll end up like OP.

Better bet (and the one we are taking on a similar income) is to send the kids to state schools. If they want to go private they can attempt that at the masters level.

We also live in the same house we bought in 2012. OP decided to move during the crazy bubble times we are currently in.

Financial choices matter. And sometimes the consequences of those choices don’t become apparent until much later.

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics