Anonymous
08/25/2013 12:08
Subject: Re:How old are your kids and how much do you have saved for each of them for college?
20 - 80k left with 3 semesters to go. Started with about $200k.
17 - 180k. Start paying in a year.
Anything leftover goes to grad school.
17 - 180k. Start paying in a year.
Anything leftover goes to grad school.
Anonymous
08/25/2013 12:04
Subject: How old are your kids and how much do you have saved for each of them for college?
Anonymous wrote:
Can anyone tell me why a 529 is better than investing in the market? I just think there's a high enough possibility my child will either get a scholarship or not go to college that it seems like a bad idea.
The earnings in a 529 are tax-free, which can result in significant savings over time. In some states, contributions to a 529 are tax-deductible which provides extra savings.
If you use the funds for non-college expenses, you are taxed 10% on the EARNINGS - not the principal that you have invested. This earnings portion of a non-qualified distribution is also subject to tax as ordinary income at your tax rate. For many people, the tax savings on the earnings over time balances out or exceeds these penalties.
If your child receives a scholarship, you can withdraw the amount of the scholarship for non-college expenses without incurring the penalty.
Anonymous
08/25/2013 12:02
Subject: How old are your kids and how much do you have saved for each of them for college?
Anonymous wrote:1 year old. $0.
Can anyone tell me why a 529 is better than investing in the market? I just think there's a high enough possibility my child will either get a scholarship or not go to college that it seems like a bad idea.
In most states and DC, there is a deduction off your state taxes.
Anonymous
08/25/2013 11:33
Subject: How old are your kids and how much do you have saved for each of them for college?
1 year old. $0.
Can anyone tell me why a 529 is better than investing in the market? I just think there's a high enough possibility my child will either get a scholarship or not go to college that it seems like a bad idea.
Can anyone tell me why a 529 is better than investing in the market? I just think there's a high enough possibility my child will either get a scholarship or not go to college that it seems like a bad idea.
Anonymous
08/25/2013 11:25
Subject: Re:How old are your kids and how much do you have saved for each of them for college?
I want to save in 529 plan for my child. She is 3 yrs. but what if when she turns 18 and won't go to college. I wii be hit 10% penalty withdrawn ? I don't want to beg my child to go to college. How do you know if you save and the child will go to college ?
Thanks
Thanks
Anonymous
08/25/2013 09:52
Subject: How old are your kids and how much do you have saved for each of them for college?
6 yo - $90k.
Anonymous
08/25/2013 04:25
Subject: How old are your kids and how much do you have saved for each of them for college?
3yo-2K
Anonymous
08/25/2013 01:07
Subject: How old are your kids and how much do you have saved for each of them for college?
4 yo - 15k
1 yo - 2k
1 yo - 2k
Anonymous
08/25/2013 00:59
Subject: How old are your kids and how much do you have saved for each of them for college?
7 and 10 year old. Zero.
Anonymous
08/24/2013 08:58
Subject: How old are your kids and how much do you have saved for each of them for college?
15 yo - $80k
13 yo - $50k
11 yo - $30k
13 yo - $50k
11 yo - $30k
Anonymous
08/23/2013 23:07
Subject: How old are your kids and how much do you have saved for each of them for college?
DD is 10. No college fund.
Anonymous
08/23/2013 23:04
Subject: How old are your kids and how much do you have saved for each of them for college?
1 yo DS: $0
3 yo DD: $0
3 yo DD: $0
Anonymous
08/23/2013 21:05
Subject: How old are your kids and how much do you have saved for each of them for college?
11 years old - $30K
8 years old - $17K
6 years old - $15K
We're about to add $35K to each of their accounts once the sale of some real estate goes through next week.
8 years old - $17K
6 years old - $15K
We're about to add $35K to each of their accounts once the sale of some real estate goes through next week.
Anonymous
08/23/2013 19:23
Subject: Re:How old are your kids and how much do you have saved for each of them for college?
Anonymous
08/23/2013 19:19
Subject: How old are your kids and how much do you have saved for each of them for college?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Wow! Good job folks.
Honestly, I think college is overrated.
Did you go?
Yes I went to JMU.
Well JMU is overrated, certainly.