Anonymous
12/30/2024 15:57
Subject: How much in their 529?
Anonymous wrote:Bad tax planning. You're leaving money on the table.Anonymous wrote:We aren’t using a 529, but are planning to use a Roth IRA (DH is 60 next year). $150k in it, DC is in 11th.
Our financial advisor recommended it, but I’m sure you, internet stranger with no knowledge of our finances, know much better.
Anonymous
12/30/2024 15:52
Subject: How much in their 529?
Anonymous wrote:We need to start. Have 1000 in an interest bearing savings account. How much are you adding per month? We are very much scraping by.
How about $100 a month? Can you manage that? By starting with some amount (maybe $2000?) then adding $208/month (state tax deduction of $2500/yr) all in the equity fund, my kid now has close to $200,000. If you can’t do $100/month, how about $50?
Anonymous
12/30/2024 15:07
Subject: How much in their 529?
~85k for 10 year old and ~65k for 8 year old.
Until recently we made the mistake of being in far too conservative target date funds so growth has been much less than it should have been.
Until recently we made the mistake of being in far too conservative target date funds so growth has been much less than it should have been.
Anonymous
12/30/2024 15:05
Subject: How much in their 529?
Have about $1 million across three kids. College sophomore (already paid 4 semesters), hs senior, middle school kid. Almost fully invested in stocks. Money has tripled or quadrupled over the years
Anonymous
12/30/2024 15:01
Subject: How much in their 529?
1st year in college - $0
11th grade - $0
schools expect you to pay with 529, cash, assets you have. however, cars are not assets .. you can be riding in a bently and get financial aid .. maybe even a full ride!
11th grade - $0
schools expect you to pay with 529, cash, assets you have. however, cars are not assets .. you can be riding in a bently and get financial aid .. maybe even a full ride!
Anonymous
12/30/2024 14:51
Subject: How much in their 529?
17 yr old- $0
Anonymous
12/30/2024 14:48
Subject: How much in their 529?
High School Junior ~$145k
8th Grader ~$125k
8th Grader ~$125k
Anonymous
12/18/2024 20:22
Subject: How much in their 529?
Anonymous wrote:What are your kids ages and how much is in each 529?
I think we are about average. 6 year old has 25k and 8 year old has 30k.
The average is zero. Or maybe: a small fraction of one dollar per kid.
Anonymous
12/18/2024 19:50
Subject: How much in their 529?
Anonymous wrote:Bad tax planning. You're leaving money on the table.Anonymous wrote:We aren’t using a 529, but are planning to use a Roth IRA (DH is 60 next year). $150k in it, DC is in 11th.
NP considering doing the same. Can you explain in simplistic terms why that is bad tax planning?
Anonymous
12/18/2024 19:43
Subject: How much in their 529?
50kish for each. We had our own student debt and lower income for a long time. Twins going in-state in FL with Bright Futures, so we will have almost nothing to pay.
Anonymous
12/18/2024 19:12
Subject: How much in their 529?
3% less today! 
Anonymous
12/18/2024 19:08
Subject: How much in their 529?
10th grader: 240K.
We made the mistake of choosing target date funds when we started but realized the folly and switched to a broad index fund just in time to catch the bull market run. Will switch to a more conservative portfolio soon as college years approach.
We made the mistake of choosing target date funds when we started but realized the folly and switched to a broad index fund just in time to catch the bull market run. Will switch to a more conservative portfolio soon as college years approach.
Anonymous
12/18/2024 15:45
Subject: How much in their 529?
13-year-old: $350k (stopped contributions, moved to conservative allocation)
6-year-old: $164k (100% in a broad index fund)
6-year-old: $164k (100% in a broad index fund)
Anonymous
12/18/2024 15:42
Subject: How much in their 529?
College freshman $150,000
In state at UVA - and going to be an RA next year, which cuts costs significantly for the year so there may be a little left over after four years?
In state at UVA - and going to be an RA next year, which cuts costs significantly for the year so there may be a little left over after four years?
Anonymous
12/18/2024 15:27
Subject: How much in their 529?
Anonymous wrote:Make sure you have it invested well. I've know people who contributed to a 529, but never chose investments for the money. So the money sat in a money market fund and made very little. The money I had invested for my children at age 5 more than tripled in amount by the time they went to college. I kept it in moderate growth accounts the whole time.
This as well as do not do a target fund! They are not as aggressive as you should be going