I'd save as much as you can. If any leftovers from DC 1, you can use it on DC2. If any leftovers after DC2, new laws allow you to fund their ROTH account (35k each). So, there is low risk of overfunding. Keep savings. DC2's account can be more aggressive than DC1 due to age difference.

If if you are OK with one or two years of community college, followed by transfer to an in-state state College, yes, you have enough saved.

If you want four years of in-state college at a four-year institution, then you need to save some more.

If you want private school, no, you don’t have nearly enough because that’s about 80,000 a year unless you get married aid or significant grants.

Had you invested on your own, that $80k would be $200k easily right now plus all the experience of how you got there. You could pass down the investment advice,experience and knowledge to your children and save younger child's money from rules, fees, and slow growth.
Comes out that if I don't use 529, my kid's next semester (4 classes) is paid by their tax refund. 529 is not a magic account. Having it has negatives.
You need to max out your Roth and your children's Roth every year each of you qualifies for it. We don't know the future tax rates or student loan rules. Look at inherited Roth IRA versus inherited or transferred 529. No comparison.
Financial literacy is something you learn. Few lucky ones get it from their parents along with seed money. Be that parent.
My kids don't have to work past age 30, because I put my retirement, their retirement, and investing on our own ahead of college savings.
Older one is about to start community college and already had 30 credits from high school. Fall semester will be paid by tax refund as he is working and filing on his own.

Colleges likely won't exist as we know them now by the time your children are old enough.

Hi OP. I also have a rising 8th and rising 1st grader. I would make sure you are meeting your retirement and rainy day fund goals before you put more in the 529. I would also look at some "net price calculators" for a variety of colleges (private, public, etc.). You do not provide your HHI or net worth, but it is possible the list price for colleges may be less than you expect.

Anonymous wrote:Lady college for that 9th grader will be $100K a year before FA.
I hope you are poor enough to receive some bc that $80K will cover one year at most.

NP. How do you know OP is a lady, for one? And 80k+ is better than 0.

OP, I think you’ll be okay. I’d recommend continuing to save, and you should be able to meet your goal is at least 80%. Consider 2 yrs of community college to save money.

Good on you for doing what you can for your kids, despite your background and financial literacy. Best of luck.

Anonymous wrote:Lady college for that 9th grader will be $100K a year before FA.
I hope you are poor enough to receive some bc that $80K will cover one year at most.

Most people do NOT attend a $90-100K/year college. Find a great state school that you can afford. The OP is in line to afford that.

Who knows OP, who knows. I saved enough to pay full for kid to go to any college ($400k) and they are using it to go to their college of choice. They received no aid for that college. They did receive merit for other schools. My income is about $200k, real estate $2m and retirement accounts of $3m. Age late 50's. I had assumed undergrad would cost about $60-70k a year, and some would go to grad. I was wrong. To be fair, it could have cost about that much at some of the merit schools.

Anonymous wrote:

Anonymous wrote:My daughter is entering 8th grade this year. I have 80k saved in her 529. My hope is to pay for at least 80% of her post-high school education. Is this enough for a decent appreciation over the next 5 years, or do I need to keep going and save a bit more?

I also have a rising 1st grader. Only 30k in his 529, but a little less worried, since in theory, I have more time to save.

I have a working poor background and my financial literacy isn't great, though I try to educate myself. If I do nothing else, I want to give my kids a little "leg up".

So this isn't a brag post, just looking for a quick gut check (and maybe reassurance that I'm mostly on track.

well if that first grader gets in to a great school like NYU, Georgetown, Villanova, Fordham, UPenn, Harvard blah blah blah they will need 500K to graduate. Minimum more likely 600K. A small handful of schools all in our pushing 100K now. The 1st grader you need to do 10K a year starting now. Maybe 100 percent stocks for next 11 years. Then slowly scale down from all stocks at 11 to all short term bonds/money markets by 21

Except based on OP's description of the family if her kid gets into Harvard or UPenn then the kid will attend for free or nearly free based on income level.

Lady college for that 9th grader will be $100K a year before FA.
I hope you are poor enough to receive some bc that $80K will cover one year at most.

Anonymous wrote:

Anonymous wrote:My daughter is entering 8th grade this year. I have 80k saved in her 529. My hope is to pay for at least 80% of her post-high school education. Is this enough for a decent appreciation over the next 5 years, or do I need to keep going and save a bit more?

I also have a rising 1st grader. Only 30k in his 529, but a little less worried, since in theory, I have more time to save.

I have a working poor background and my financial literacy isn't great, though I try to educate myself. If I do nothing else, I want to give my kids a little "leg up".

So this isn't a brag post, just looking for a quick gut check (and maybe reassurance that I'm mostly on track.

well if that first grader gets in to a great school like NYU, Georgetown, Villanova, Fordham, UPenn, Harvard blah blah blah they will need 500K to graduate. Minimum more likely 600K. A small handful of schools all in our pushing 100K now. The 1st grader you need to do 10K a year starting now. Maybe 100 percent stocks for next 11 years. Then slowly scale down from all stocks at 11 to all short term bonds/money markets by 21

There is no way the OP will have enough for $90K+/year schools (without merit/FA) They are doing well for in=state options. Should have $25K/year (or a bit more). Add in the kid working/contribution of $10K and kid takes federal loans and you have $40K, which covers most in-state schools.

Anonymous wrote:My daughter is entering 8th grade this year. I have 80k saved in her 529. My hope is to pay for at least 80% of her post-high school education. Is this enough for a decent appreciation over the next 5 years, or do I need to keep going and save a bit more?

I also have a rising 1st grader. Only 30k in his 529, but a little less worried, since in theory, I have more time to save.

I have a working poor background and my financial literacy isn't great, though I try to educate myself. If I do nothing else, I want to give my kids a little "leg up".

So this isn't a brag post, just looking for a quick gut check (and maybe reassurance that I'm mostly on track.

well if that first grader gets in to a great school like NYU, Georgetown, Villanova, Fordham, UPenn, Harvard blah blah blah they will need 500K to graduate. Minimum more likely 600K. A small handful of schools all in our pushing 100K now. The 1st grader you need to do 10K a year starting now. Maybe 100 percent stocks for next 11 years. Then slowly scale down from all stocks at 11 to all short term bonds/money markets by 21

I think you’re good for in state public or possibly a private/OOS that is known to give a lot of merit aid but I might save a bit more. We have 60k for DS who is a rising senior and will be able to cash flow about $15-20k a year based on what we have been doing all along with older kids (luckily he will be the one in college by then). This will more than cover in-state for MD and we have found a number of private/OOS publics that fit within this budget after merit. The key is that DS is not applying to selective colleges. If college selectivity is important, you will spend more. And I believe in-state VA is more expensive.

Anonymous wrote:My daughter is entering 8th grade this year. I have 80k saved in her 529. My hope is to pay for at least 80% of her post-high school education. Is this enough for a decent appreciation over the next 5 years, or do I need to keep going and save a bit more?

I also have a rising 1st grader. Only 30k in his 529, but a little less worried, since in theory, I have more time to save.

I have a working poor background and my financial literacy isn't great, though I try to educate myself. If I do nothing else, I want to give my kids a little "leg up".

So this isn't a brag post, just looking for a quick gut check (and maybe reassurance that I'm mostly on track.

I put your numbers in here (with some assumptions) and for an in-state public school you're pretty much done saving!

https://www.savingforcollege.com/calculators/college-savings-calculator

My daughter is entering 8th grade this year. I have 80k saved in her 529. My hope is to pay for at least 80% of her post-high school education. Is this enough for a decent appreciation over the next 5 years, or do I need to keep going and save a bit more?

I also have a rising 1st grader. Only 30k in his 529, but a little less worried, since in theory, I have more time to save.

I have a working poor background and my financial literacy isn't great, though I try to educate myself. If I do nothing else, I want to give my kids a little "leg up".

So this isn't a brag post, just looking for a quick gut check (and maybe reassurance that I'm mostly on track.