3 kids. We started them each with a few thousand in a 529, then put about $200 per month each in the funds. As mentioned earlier, $25k per year for college would be cheap. And I understand that sentiment of "my pop didn't pay for my college, I worked my way through, a little debt never hurt anyone"... BUT a lot of debt has hurt a lot of folks. College costs aren't like they used to be, and to assume you can work while in college and cover the costs is a bit optimistic. I'm also not 100% confident TOPS will be there forever. Plus, maybe my kids will get to go to a better shcool than LSU?

2 ...

Report Post

Posted by Athletix

:pels:

Member since Dec 2012

5070 posts

Posted on 2/1/16 at 2:49 am to Spirit of Dunson

Some wealthy people in this thread...

Came from a middle class family. I was given a vehicle and some cash occasionally when I needed it. My parents were always there if I needed them, but they weren't gonna just hand me a shite ton of cash just because I was going to college. It would be awesome to have no debt right now, but the work ethic I built through school helped mold me. Now with all that said I don't want my kids to come out of college with the amount of debt I or my wife had. I'm in a good financial position where I'll do like others and contribute a modest 100 dollars a month. But they will work, and they will learn to build a strong work ethic early in adulthood.

This post was edited on 2/1/16 at 2:51 am

0 ...

Report Post

Posted by Baers Foot

Louisiana Ragin' Cajuns

Member since Dec 2011

3547 posts

Posted on 2/2/16 at 2:23 pm to Spirit of Dunson

What's the benefit of a 529 over a Roth IRA? I've read that one can withdraw from a Roth IRA penalty free if it's for education purposes. Just wondering because I'm also expecting.

4 ...

Report Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board