Anonymous wrote:

Anonymous wrote:So, $500/kid? So you will have put in 96k for your two year old when he hits 18 and 108k for your baby when she turns 18. If it's an account that earns interest, sounds good to me. Be sure to put it in an account with interest so the money grows.

Just curious... Have you looked at offered APY anytime in, say, the last 5 years?

My 529 account yearned 6% last year. If you're not aware such options exist, look around.

I mean 529.

Uh, we used to put in a few hundred a month for our dd, now 3. Since then, we bought a house and have another one on the way. Saving for retirement is more important, and with daycare costs, we just can't add anymore to the 539 right now. Once the kids are out if daycare, we will up the contributions again.

My parents paid for my in state school education, and I hope to be able to do the same for our kids. I'm not sure we will succeed.

We put $50k at birth. Stopped there.

We have been contributing $250/pp (26 pp) for each kid since before they were born. We plan to do it until they have about $50k. After that, we will put the same money into something that could be use for college OR retirement.

Our FP said this was a good strategy.

Anonymous wrote:So, $500/kid? So you will have put in 96k for your two year old when he hits 18 and 108k for your baby when she turns 18. If it's an account that earns interest, sounds good to me. Be sure to put it in an account with interest so the money grows.

Just curious... Have you looked at offered APY anytime in, say, the last 5 years?

Anonymous wrote:So, $500/kid? So you will have put in 96k for your two year old when he hits 18 and 108k for your baby when she turns 18. If it's an account that earns interest, sounds good to me. Be sure to put it in an account with interest so the money grows.

1000/kid

I think that's a good amount.

So, $500/kid? So you will have put in 96k for your two year old when he hits 18 and 108k for your baby when she turns 18. If it's an account that earns interest, sounds good to me. Be sure to put it in an account with interest so the money grows.

I think it depends on how hard hit you would be by a shortfall in your account.

I save around that much for college. If I get a good ROI, it will work out fine, and if I fall a bit short, my income is high enough that it won't be completely devestating.

To me, this is a better place to be than be oversaving and risk paying a penalty if I need to use the money for something else. But maybe if my income were lower and needing to cover a shortfall would be crippling I would feel differently.

Anonymous wrote:It depends...if saving more is going to cut into your own retirement or savings buffer, don't do it.

No but it will cut into our "fun" money and things like shopping, etc.

Anonymous wrote:for one kid? two? how old are the kids?

Two kids. One is two and the other is a baby.

It depends...if saving more is going to cut into your own retirement or savings buffer, don't do it.

for one kid? two? how old are the kids?

Do you think saving 1k/month is sufficient (recommended by our FP) or would you try to do more? I don't necessarily trust that we will get a 7% ROI over the course of the next fifteen years or so...