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College and University Discussion
Reply to "College Planning Upper Middle Class"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP we make half as much as you, with one kid. I know you have two, but especially since you have no mortgage, can't you just use one of your incomes (or half of total income) to devote to tution for whatever years your kids need it? Seems with what you've saved you would have no problem funding college and grad school that way. You can also borrow against retirement savings for college I believe. I don't think you need to save more per se now. [/quote] I would never borrow against our retirement plan to fund college. [/quote] OP refers to 3 million in retirement and it's not clear if that's all in 401ks and other retirement savings mechanisms as she'd have to pay penalties if she borrowed against them, I believe. But presumably some of that is in other long term investment accounts rather than retirement accounts. She is already in a super privileged minority with that much retirement saved and a house fully paid off and a long working life still ahead of her. [/quote]
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