How are your retirement funds looking? Either you funded your retirement instead of a 529 and are comfortably paying the extra cost today or you did not have the extra funds to begin with and did the best you could. Or maybe you spent that cash on yourselves and now doing well enough to help your child cover the cost. Either way, sounds like it is working out for y’all.Okay, but realize it can be a lot more than $10K per year out of pocket, depending on where the child goes. Especially if it is a private school. I saved only $175K in a 529 for my daughter, and her school cost $333K for the four years. The last $158K is coming out of pocket.I would rather have to pay $10k a year out of pocket because I have too little compared to over funding it by the same amount and then needing to pay a penalty to be sued for something else.
Also, what are the chances all 3 kids will be going to expensive private school with no scholarships? What are the chances that $450k will grow to a total value of $1.2 million or more over the next 20 years. I say 20 years because the youngest is 2 years old and college is 4 years.
Statistics: Posted by EnjoyIt — Fri Aug 02, 2024 2:41 am
