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re: How much is enough in the 529 accounts?
Posted on 10/5/20 at 1:16 pm to ashy larry
Posted on 10/5/20 at 1:16 pm to ashy larry
We do $200/month for 1 kid since he was born. The idea is that over the course of 18 years, contributions alone will be $43k + growth (6% annual conservative estimate) would give us ~$75k. Probably won't cover the full 4 year cost but I think there will be a major bubble burst in the next 18 years. Higher ed costs can't continue on the current trajectory.
2
Posted on 10/5/20 at 2:13 pm to TigerTatorTots
quote:
would give us ~$75k
That's about what I estimated as well. We spend roughly $14k/year on each kid's tuition, summer camps, aftercare, etc and that money could just be put towards college as well. I'm not sure I'll need the full $75k when my kids reach college. If I knew TOPS would still be a thing in 12-13 years, then I certainly wouldn't need it. I'm just thinking that at some point I might be better off sticking the money elsewhere.
Posted on 11/3/20 at 3:00 pm to TigerTatorTots
quote:
I think there will be a major bubble burst in the next 18 years. Higher ed costs can't continue on the current trajectory.
I'm absolutely not picking on you.
People say this all the time, and I'd love for it to be true...but I'm not sure its actually going to happen. Especially since credit is available to pay for it. I can see the astronomical costs rate of growth slow, but there would have to be some major, major contraction to bust that bubble.
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