Anonymous wrote:Serious question. To the folks who have HHI in the $400K and up range, why do you even need to worry about saving for college? It seems to me that at that income level, you could actually pay for even an expensive school out of your regular income (which I am assuming will be even more when the DCs reach college age). I am one of the previous posters who is at $175K and currently saving about $18K/year.

Our HHI is $440k and I posted earlier. We saved $18k this year for one child and will probably up that to $28k next year when we have two kids. We do it because of the tax advantages but also the peace of mind. It's nice to know that the money is socked away and will have time to grow. If we ever get to a place where we've saved enough in the 529 to stop saving for college, all the better. At that point, we'll put money into taxable investments.

Anonymous wrote:Serious question. To the folks who have HHI in the $400K and up range, why do you even need to worry about saving for college? It seems to me that at that income level, you could actually pay for even an expensive school out of your regular income (which I am assuming will be even more when the DCs reach college age). I am one of the previous posters who is at $175K and currently saving about $18K/year.

Tax-free growth, I'd imagine.

Serious question. To the folks who have HHI in the $400K and up range, why do you even need to worry about saving for college? It seems to me that at that income level, you could actually pay for even an expensive school out of your regular income (which I am assuming will be even more when the DCs reach college age). I am one of the previous posters who is at $175K and currently saving about $18K/year.

This tr we put in 50k into 529 as a lump sum contribution. 529 has ~200k total. DC is 7. We will not be making anymore 529 contributions.

HHI is 0. We are retired.

None. Kids will pay for their own college.

HHI $110,000 (one income for 3.5 years). Kids 5, 3 and 1. 5 and 3 year old each have $45k in their accounts. 1 year old has $18k. We started saving before we had kids and have been able to move over large deposits from other investments. Plus, we have a rental property in Hawaii (that we bought when we were expecting) to fund the rest of college. Net proceeds should be $400k by college time. We are actually thinking about stopping once the plans reach $75k each--I just started back to work and HHI will go up to $220k. FWIW, there was no family money and we both just have bachelor degrees. It was just old fashion hard work and smart investments during our late twenties (35/38 now).

Anonymous wrote:hhi 135k. we maxed retirement in 1 tsp and 2 IRAS, also did 8k in 529 for one child. we also pay for private for 1 child. our budget is TIGHT, and next year we won't divert as much to college, but you can definitely do better on savings or swing private, OP.

Did you eat this year?! In all seriousness, how did you manage to save so much?

hhi 135k. we maxed retirement in 1 tsp and 2 IRAS, also did 8k in 529 for one child. we also pay for private for 1 child. our budget is TIGHT, and next year we won't divert as much to college, but you can definitely do better on savings or swing private, OP.

Anonymous wrote:Child is 7. Transferred 24 months of my GI Bill to him. Haven't actually saved any money for him though and I don't think I will. That 24 months will take care of 2 1/2 years of school. I think his father can do the rest.

Note to self...marry into the Armed Forces.

Child is 7. Transferred 24 months of my GI Bill to him. Haven't actually saved any money for him though and I don't think I will. That 24 months will take care of 2 1/2 years of school. I think his father can do the rest.

We saved good chunk this year - 80k. No, we don't usually save that much. This year was an unusual year...

I haven't read the thread but we earn less than half of you ($160k), also bought a new house this year with 20% down, and have a toddler in daycare, and saved $8000 for college this year.

$175k hhi.

1 kid, $8000 in 529s. Grandparents an additional $3100.

HHI right at $200k. Save $2k/yr. Grandparents put in an extra $5k/yr because their own kids did not cost them anything to go to college (scholarships)... I feel very lucky.

8k/year/kid for the last two years (2yr twins). Hope to maintain that for 7-8 years and then let it build (hopefully be around 100k by college age) and put our money elsewhere. HHI 215, age 35. 401k, tsp, and ROTH maxed prior to 529s. Mortgage will be paid off around college age, so we may be able to handle some extra out of cash flow.