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Reply to "How old are your kids and how much do you have saved for each of them for college?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]1 year old. $0. Can anyone tell me why a 529 is better than investing in the market? I just think there's a high enough possibility my child will either get a scholarship or not go to college that it seems like a bad idea. [/quote] In addition to the other suggestions, maybe a Roth could work for you. You could use the money in retirement if DC does not need it for school [/quote] We plan to save about $50k for each child, which will likely happen when they are turning 5. After that, we will put the money into other investments - something that we can withdraw if needed for college or just hold on to for our retirement. If our 529s earn as they have been, we expect the kids to have about $80k when they start college. By then, the house will be paid off, so we will have additional money each month to pay towards tuition if needed. I see this as not putting all my eggs in one basket.[/quote]
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