Can you please share the age of your kid(s) and how much you’ve accumulated in their 529s to date?

likefunny
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9 year old and $45k.

Aiming for $100k by 18 which should be easily achievable. Opened account at 2 month old and put in $200/month.

likehelpful

Yeah good luck. Loans today for kids that are tied to their parents are minimal. The burden has shifted to the parents so kids don’t rack up debt in college. As an example, my kid could get 5k a year in loans and I could pick up the rest of her costs as a parental loan at 6% interest. If I had wanted to go the loan route and of course the juice is running day 1 on those loans.

6 years: $60k
4 years: $45k

Just do the best you can.

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13, 12, 10. $0, $0, $0.

likefunny

There are many ways to get to the same result. Seems like you have it under control and best of luck

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6 year olds, $110K each. We contribute $1k/kid/month. Not sure how long we’ll keep it up at that rate. An advisor told us when they were born to aim for $500K each by 18 to theoretically cover most of undergrad/grad. Truly insane.

likeuplifting

@CS1, isn’t there an upper range to the amount of money we can have in a 529 plan, something to the range of around $350K? Or does that differ from state to state plan?

Some of these amounts are insane. Aiming for $100k per child by the time they are 18. Any difference in cost they will have to come up with themselves.

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10 year old; 180k

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I don’t even have kids :(

3 year old; $0

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95k (including earnings), 1yo. Created it in my name ~5 years before my child was born.

likesmart

You can open a 529 with you as the beneficiary. You can change the beneficiary later. Just watch out for the gift tax limit

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13, $7500

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3.5, $59k

likefunny

Almost 2 and 34k invested. Been doing 1k a month. Remember, early days when you get the most out of compounding.

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6 and 8, $0 respectively, I have yet to be able to find employment that pays for child care and to put a roof over my head, so I been broke ever since they were born.

likehelpful

10 months old. 5k so far. Going to start putting 10k at the beginning of every year starting next year.

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I’ve been pretty aggressive. 5 yo, 80k. 1 yo, 35k. I will slow it down soon and let compound interest do the work.

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$5k. Due in March!

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Liar, must be in YOUR 529 😃

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13k 2 year old

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Can someone explain a dummy what the benefit of investing in 529 is vs some other vehicle?

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Think Roth but for education expenses. Some states give tax deduction.

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I’ll give you my breakdown, invested 12k initially when she was 1, added 4K twice and then let it grow. Have about 70k now she’s 18. She went out of state and got a 60k scholarship and it still costs me about 20k a year out of pocket on top of the 529 and scholarship

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So you only invested 20k in total... Did you choose aggressive portfolio?

3 year old, 1.5k total, $200 per month +Biden's child tax credits

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Looking at all these posts I'm like "damn"! My kid better become a Tik Tok influencer.

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