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2 & 3yo kids 529 Accounts ended 2020 with just over $12k ($7k & $5k each).
At my current rate ($150/mo each), they'll have somewhere in the ballpark of
$75k-100k to use for education purposes (8% return).
At my current rate ($150/mo each), they'll have somewhere in the ballpark of
$75k-100k to use for education purposes (8% return).
Do I like the current college model, absolutely not.
Do I think it will go away, absolutely not.
Will I encourage them to go to school, in some format, yes it will be encouraged but I won't force it on them.
Do I think it will go away, absolutely not.
Will I encourage them to go to school, in some format, yes it will be encouraged but I won't force it on them.
Am I worried if they don't go that the money will be wasted?
No, worse case we'll pay the 10% penalty on earnings.
We're talking ~$10K penalty in this scenario. Pretty small price to pay and a risk I'm willing to take.
No, worse case we'll pay the 10% penalty on earnings.
We're talking ~$10K penalty in this scenario. Pretty small price to pay and a risk I'm willing to take.
Based on estimates, in 15 years the est. cost of 4 years of school is >$220K 
so there will be a delta for us to cover.
As such, when daycare concludes in the next 2 years I'm planning to add to their contributions each month (either 529 or custodial acct.)
so there will be a delta for us to cover.As such, when daycare concludes in the next 2 years I'm planning to add to their contributions each month (either 529 or custodial acct.)
For all my other parents out there, what is your strategy? 
529, custodial accounts, cash value whole life to pay for school, etc.?
529, custodial accounts, cash value whole life to pay for school, etc.?
