Reply to I said we can’t retire yet. Am I wrong?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Previous poster again.  Just saw the post where OP said she is 12 years until the end of college.  So she has a 4th grader?

Yeah, don't retire. Your most expensive kid-related years are all in front of you.

Also, never assume your kid will attend XYZ college. We thought this and then lo and behold we have a kid attending an Ivy (never would have predicted this as we did not ourselves and we didn't push for it). A few months ago we received the formal first year cost estimate from the university and it's $97k.  And we don't qualify for any aid on our HHI of $350k.

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Good god - who tf thinks it's a good idea to spend $97K per year on college when your HHI is $350K??

As someone who went to an Ivy but paid basically nothing, it's not remotely close to being worth it unless it's Harvard, Princeton or Yale.  Even then, it's only worth it if they're a naturally very extroverted person who will organically benefit from the networking opportunities.  If your kid is just a nerd, send them to a state school (and give them a $300K check upon graduation if you so desire).[/quote]

While I agree it is not "worth it".  If someone is able to save and have a fully funded 529, it is their choice.  However, I consider "fully funded" to include the ability to pay for graduate school as well, so yeah if I only made $350K, my kid would be funded for $40-50K/year and they would need to live within that budget

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