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Reply to "How much should you contribute per month to 529 plan?"
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[quote=Anonymous]Everyone's plan is different, as long as you have one, you are in better shape than a lot of people. When we first got married and bought a house we took out a 15-year mortgage. When baby came along a short time later, we didn't have lots of money to put away for college so we put away $166/mo (or $2000 per year) into an ESA plan. We knew it wasn't enough for college, but we also knew that 3 years before she went away for college we'd have no mortgage and could pay for it then. As it turned out, we ended up moving for a job relocation and pulled a lump sum out of the house and put it into a 529 for her and her siblings. Then my father-in-law died and left us some money so we put another lump sum in each of the kid's 529 plans. We still only put $2000 per year into each of their ESAs.[/quote]
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