Anonymous wrote:

Anonymous wrote:13-year-old: $350k (stopped contributions, moved to conservative allocation)
6-year-old: $164k (100% in a broad index fund)

Doesn’t look like you know what you’re doing. $350K is what you should have for a 17-year-old, maximum. You obviously over contributed, which is essentially a gross miscalculation and sunk cost.

PP could transfer excess to the younger kid.

Anonymous wrote:12th grade-40,000
9th-40,000

Not putting in any more.

Why not?

Senior in college has about $20k left, which will go toward grad school - already accepted

Sophomore has $110k left, which will cover junior year and a little bit of senior year, and we will cash flow the remainder - choose this $$$ school and knows nothing will be left for grad school

I stressed so much unnecessarily when my kids were little about the expense of college. We saved faithfully into the 529. My kid is now at UVA (in state) and we have decided to pay out of pocket as we go because we are in peak earning years and it’s not a stretch. The 529 continues to grow. Our younger will have basically unlimited financial options, but we will possibly pay that also out of wages if we can when the time comes. Our oldest has been maintaining a 4.0 and is now considering med school if he stays on the same academic track. I’m now quite glad we have not touched the 529!! Will be great to be able to help him with his higher education if that’s the path he chooses.

HS Sophomore: 461k
8th Grader: 325k

Our goal has always been to pay for 4 years of college. Any excess will be used towards our children’s graduate school education and/or funding their ROTH IRAS to the $35k limit. Once that’s complete, we’ll contribute up to the DC tax deduction limit ($4,000 per beneficiary), and use that for our future grandchildren. We’ll make it clear that the grandchildren’s 529 accounts are supplemental, and not an intended to be the primary 529 accounts (that’s their parents’ responsibility).

Anonymous wrote:

Anonymous wrote:13-year-old: $350k (stopped contributions, moved to conservative allocation)
6-year-old: $164k (100% in a broad index fund)

Doesn’t look like you know what you’re doing. $350K is what you should have for a 17-year-old, maximum. You obviously over contributed, which is essentially a gross miscalculation and sunk cost.

Better to have too much than too little.

Anonymous wrote:13-year-old: $350k (stopped contributions, moved to conservative allocation)
6-year-old: $164k (100% in a broad index fund)

Doesn’t look like you know what you’re doing. $350K is what you should have for a 17-year-old, maximum. You obviously over contributed, which is essentially a gross miscalculation and sunk cost.

9th grade 45K contributing the 8k/year over the next 4 years. Hoping to have enough for state school tuition.

12th grader $90k
9th grader $45k

Capping annual cost at $40k. Goal is to have 3 years of cost in each 529 before their freshman year of college and then cash flow the rest.

Really kicking myself that we didn't switch to more aggressive funds years ago.

Anonymous wrote:

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.

20yo, sophomore in college: $184K
17yo, senior in HS: $375K
15yo, sophomore in HS: $302K
12yo, 7th grade: $225K
10yo, 5th grade: $149K

Goal is to pay in full for 4 years of private school at a T50 college. HHI $460K. NW $4.1M. No family money. 20yo attending Cornell. 17yo accepted into Stanford REA.

What will you do if your younger kids don’t gain admittance to a t50. Would you still pay 400k plus for an inferior school. Or what if they were accepted to a higher ranked in state school (ie UVA) but wanted to go to a much more expensive and much lower ranked private?

$35k for a 3 year old. Our goal is to pay for in-state.

12th grade-40,000
9th-40,000

Not putting in any more.

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.

20yo, sophomore in college: $184K
17yo, senior in HS: $375K
15yo, sophomore in HS: $302K
12yo, 7th grade: $225K
10yo, 5th grade: $149K

Goal is to pay in full for 4 years of private school at a T50 college. HHI $460K. NW $4.1M. No family money. 20yo attending Cornell. 17yo accepted into Stanford REA.

Junior in HS, $180k

Anonymous wrote:DC is only child. What if we save too much and she decides to go to UMD. Has anyone had this happen and paid the penalty to withdraw the extra money?

I would like to save enough for private or OOS to be an option but I do wonder about if I should put anything over 100K in something other than a 529 on the off chance she does go in-state

You can roll over up to 35k to a Roth IRA, use excess funds for grad school (should she decide to pursue it) or any other academic programs, or transfer the balance to future grand children (or any other family members you’d like yo help out) before facing the withdrawal penalty