Reply to controversial opinion: money & finances edition

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Some people on here save way too much for college.  If you're able to save that much, you can probably pay some as you go as well.  Let your kid pay for their own grad school. [/quote]

Agreed[/quote]

Make hay while the sun still shines. You never know when your money might leave, through a job loss, disability, death or other bad situation. [/quote]

+ 1

Save now while you can.[/quote]

Eh, if the money goes we qualify for financial aid. Right now we are paying daycare (3900/mo) and a mortgage (2000 Principal and interest) that will no longer exist when my kids are in college. If our income stays the same as it is right now, which isn't likely because we are in our 30s and will probably receive promotions and increases, that's $70K of cash flow that can be reallocated to college costs each year. Plus, it's not like we are spending all of our money every year. We are actually saving quite a bit. However we're putting it into retirement funds, paying down the mortgage, and general savings rather than earmarking it for college. [/quote]

I feel the same way.  We are putting money away for college, but I don’t know why there is so much pressure about it.  We had nothing saved for daycare when our incomes were considerably lower, and we were still paying mortgage, car, student loans, etc.

But then you have to remember that a lot of dcum has children much later in life.  So when their kids are born, they are in the place in their careers that I will be when my kids go to college.  And when their kids go to college, they will be starting to look at retirement.  So in that case, of course it makes sense to save a ton for college.  [/quote]

We had kids in our mid 20s, saved for college and now our kids are in college that is 100% paid out of savings. It is incredible to be in our mid 40s, peak earning years,  no kid expenses and bringing in 41k in gross income each month. DH and I travel like crazy and dont have a single financial concern in the world. We also will be able to fund a down payment for our kids homes and have already money set aside for our unborn grandkids higher education. Our good planning with our high incomes will positively impact a future generation.

I'm so grateful we are not saddled with toddlers at this point in our lives. Plus my body didnt get wrecked because I had kids when my body was able to bounce back mere weeks after giving birth.[/quote]

Hope your kids have more humility than you do.  Good lord.[/quote]

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