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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]13-year-old: $350k (stopped contributions, moved to conservative allocation)
6-year-old: $164k (100% in a broad index fund)[/quote]

Doesn’t look like you know what you’re doing. $350K is what you should have for a 17-year-old, maximum. You obviously over contributed, which is essentially a gross miscalculation and sunk cost. [/quote]

They have a 6 yo whom they can transfer any "excess".  So as long as they stop contributing to the 6yo account soon, this isn't an issue.

[/quote]

I will not stop contributing to the six-year-old's 529 plan until they have 95% of the cost of attendance at our alma matter. Financial Samurai does a nice job describing why overcontributing to a 529 plan is not a "gross miscalculation and sunk cost": https://www.financialsamurai.com/what-to-do-with-leftover-money-in-a-529-plan/

We value education and started contributing to the gift tax exclusion to each kid's 529 plans at birth, even when it hurt because we also needed a nanny.  Now we're further in our careers, and it doesn't hurt anymore to allocate $18k per year to the six-year-old's 529 account.  We'll most likely be retired before they start college, and we'd prefer to have it fully funded prior to retiring. [/quote]

Financial Samurai is a joke.  Absolutely terrible with money.[/quote]

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