How Should I Be Saving For My Kid's College?

How Should I Be Saving For My Kid's College?
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[jwc]

I started to invest in 529 on the day I found out my wife was pregnant.
My daughter graduated not only debt free but also the 529 account still got a chuck of money left because she got a lot of scholarships, and she had internships that paid quite well.
I'm continuing to invest, together with my daughter (she is working now).
My unborn grandchild will not have student loan.

[j.mney]

Sad that tuition rates outpace inflation rates by more than double each year.

[Takar]

With 529's, a lot of people get scared about "what if my kids don't go to college/trade school, etc.?" Well, you can always save it for the grandkids. BUT, you could also just pull it out.

"But there's taxes and penalties?!?!?!" Yes, BUT you'd pay taxes if you just invested regularly anyway (and I am assuming here that you're maxing out 401k and Roth IRA, because personal retirement should come first before saving for college) and the taxes and penalties are only on the GAINS, not on the entire amount, so it's really not as big of a hit as one might think. It's really the best college saving one can do, and you can avoid the taxes by using it on other kids.

My personal plan, is to save for about half-ish of their projected college costs. I do this because 1) if someone doesn't go, it gives more to the others, 2) one might get a large scholarship or something, 3) I want my kids to have some skin in the game when it comes to their college education, should they choose to get one. I will help, but pops can't foot the entire bill.

[gureno]

This person sounds exactly like someone who is a liberal arts person 😅

[elijahramsey]

The 🐐🐐🐐🐐🐐 goat has spoken...🎉🎉🎉🎉🎉🎉 Pure wisdom

[jyywkww]

You tell them to get a job. That's how. Also alot of states offer free community college if you maintain around a C average throughout highschool, and there are employers out there who will cover all of your college or at least a decent part of it.

[Duckywucky]

I’m not saving for my kids college, makes children godless and stupid, worst investment ever 😂

[johnmartin]

The answer is yes, of course you should.

[demri]

Just skip college. Its pretty clear that its basically a waste of time for most people. And a waste of money.
teach your kids to save and invest from an early age. work, travel, and gain experience.

[Je.rone_]

well college cost is going up by like 30% a year😂😂
edit: (that's hyperbole btw)