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Is a 529 the best way to save for your kids' education?

...
galvanic lilac feces cuckoldry
  04/06/21
also interested in answers just had a kid and will be sen...
startling lay pozpig
  04/06/21
529 can now be used for kindergarten through grad school. I...
Sooty Scourge Upon The Earth Shitlib
  04/06/21
do you not pay taxes or something
Territorial Hell
  04/06/21
serious q, why would you worry about "saving for educat...
Bossy Autistic Tanning Salon
  04/06/21
Ty. Hypos like these are why i made this thread. One of my c...
galvanic lilac feces cuckoldry
  04/06/21
That is the problem if you over-save or if your kid gets a s...
diverse magical nibblets
  04/06/21
Can't it grow indefinitely and become, basically, the family...
up-to-no-good cobalt chapel travel guidebook
  04/06/21
A lot of them have limits where you can’t contribute o...
diverse magical nibblets
  04/06/21
Right--more thinking of time limits. Like if I die with fund...
up-to-no-good cobalt chapel travel guidebook
  04/06/21
They are generally pretty lax on who can use the funds (kids...
gold hyperactive clown
  04/06/21
Yeah it’s easy to change the beneficiary while I&rsquo...
up-to-no-good cobalt chapel travel guidebook
  04/06/21
Good question.
gold hyperactive clown
  04/07/21
Some googling indicates it won't be part of your estate but ...
overrated cracking boltzmann half-breed
  04/07/21
i think if they get a scholarship you can withdraw the $ amo...
vermilion stubborn set voyeur
  04/06/21
Shit, really?
gold hyperactive clown
  04/06/21
Yep, but you do still have to pay taxes on the growth of cou...
overrated cracking boltzmann half-breed
  04/06/21
If your kid gets a scholarship, you can withdraw the amount ...
confused senate
  04/06/21
cr as fuck
Bateful Cream Death Wish
  04/06/21
You’re more optimistic about (1) than I am. Costs have...
diverse magical nibblets
  04/06/21
in which case you might stop to think, is this really worth ...
Bateful Cream Death Wish
  04/06/21
It’s not worth $75k/year right now, but are you really...
diverse magical nibblets
  04/06/21
How much was the private school? Is the public school she en...
galvanic lilac feces cuckoldry
  04/06/21
Yes, our public school is very good and walkable from our ho...
diverse magical nibblets
  04/06/21
"are you really going to tell your kid zhe can’t ...
Bateful Cream Death Wish
  04/06/21
...
Useless theatre corn cake
  04/06/21
"but are you really going to tell your kid zhe can&rsqu...
gold hyperactive clown
  04/06/21
Not saying education fees don't outpace inflation and that i...
Bossy Autistic Tanning Salon
  04/06/21
I do not get excited about my hard-earned money going to the...
diverse magical nibblets
  04/06/21
Yes, very likely, if: you live in a state where contribution...
diverse magical nibblets
  04/06/21
Doesn't the kid need earned income for you to contribute to ...
up-to-no-good cobalt chapel travel guidebook
  04/06/21
In your name or your wife’s name, not kid’s name...
diverse magical nibblets
  04/06/21
I already max a Roth IRA for both of us (for retirement, not...
up-to-no-good cobalt chapel travel guidebook
  04/06/21
What's the significance of the Roth IRA in your analysis?
galvanic lilac feces cuckoldry
  04/06/21
Mostly flexibility: Doesn’t have to be used for educat...
diverse magical nibblets
  04/06/21
400k per 529 per kid seems like a good hedge to me. Enough ...
Coral Location Genital Piercing
  04/06/21
10% withdrawal penalty is steep. I'd be pissed
galvanic lilac feces cuckoldry
  04/06/21
Yeah but my point is you're probably going to spend it on so...
Coral Location Genital Piercing
  04/06/21
That seems a little high. If you can contribute 2-300K to yo...
primrose spot hairy legs
  04/06/21
CR, I'm shooting for all of college and 100k each for grad s...
Useless theatre corn cake
  04/06/21
A T25 private school undergrad degree will cost over 100k pe...
Buff bull headed hospital brethren
  04/06/21
I won't send my kids to any college that costs that much. I...
Useless theatre corn cake
  04/06/21
Unless they're signaling that they want to do some truly ins...
Buff bull headed hospital brethren
  04/06/21
because ...... ?
Bateful Cream Death Wish
  04/06/21
Because you want them to be successful and that's ((moderate...
Buff bull headed hospital brethren
  04/06/21
I will stipulate that PHYSMC deliver the benefits you descri...
Useless theatre corn cake
  04/06/21
All of this could very well change in the next decade. For &...
Bisexual Sanctuary Nowag
  04/07/21
my state allows me to buy the credit hours now for the benef...
chocolate arousing stag film sandwich
  04/06/21
Pre-funding is different from a 529. With a 529 you can spe...
Coral Location Genital Piercing
  04/06/21
We used to have half of our college savings in a program lik...
gold hyperactive clown
  04/06/21
So your kids are already constrained by the iron chains of N...
Burgundy bawdyhouse
  04/07/21
529 you're locked into whatever shit fund the plan operator ...
sepia swashbuckling space sex offender
  04/06/21
You can pick a state that has options you’re happy wit...
diverse magical nibblets
  04/06/21
Narrator: "No one there was a great stock picker. They...
Coral Location Genital Piercing
  04/06/21
...
primrose spot hairy legs
  04/06/21
You can buy index funds in mine
vermilion stubborn set voyeur
  04/07/21
Only after maxing 401k, HSA, IRA/Backdoor etc. If you have ...
Cruel-hearted dilemma
  04/06/21
cr
Bossy Autistic Tanning Salon
  04/06/21
Done, then what?
primrose spot hairy legs
  04/06/21
Sex with men for money
overrated cracking boltzmann half-breed
  04/06/21
Question for someone who hasn't thought much about this: Why...
gold hyperactive clown
  04/06/21
You can always use contributions to a Roth IRA to pay for co...
Idiotic spectacular queen of the night boistinker
  04/07/21
more fungible
Bateful Cream Death Wish
  04/07/21
This is definitely the way to go, Roth first, but a Roth is ...
up-to-no-good cobalt chapel travel guidebook
  04/07/21
I’m waiting for the new 530 plans coming out soon that...
Appetizing bistre laser beams
  04/06/21
three months later they release the 531MAXXX
Bateful Cream Death Wish
  04/06/21
Why not UGMA? Yes tax & FAFSA hit, but tax hit overstate...
razzmatazz duck-like mad-dog skullcap toaster
  04/06/21
Anyone do this for k-12?
pea-brained hideous school cafeteria
  04/06/21
...
pea-brained hideous school cafeteria
  04/07/21
Not a MFE, but I'm pretty sure there's no point if you're in...
racy emerald range pervert
  04/06/21
529s are a no-brainer - if you use them for kids educational...
concupiscible station
  04/07/21
Not even close. The best way to "save" for their e...
brilliant site hissy fit
  04/07/21


Poast new message in this thread



Reply Favorite

Date: April 6th, 2021 12:41 PM
Author: galvanic lilac feces cuckoldry



(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42230883)



Reply Favorite

Date: April 6th, 2021 12:46 PM
Author: startling lay pozpig

also interested in answers

just had a kid and will be sending to private k-12

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42230928)



Reply Favorite

Date: April 6th, 2021 12:48 PM
Author: Sooty Scourge Upon The Earth Shitlib

529 can now be used for kindergarten through grad school. If your kid goes to public school through grade 12 and doesn't go to college, then saving within a life insurance policy would be the way to go. If your kid turns out to be a tard with a legit disability, you can roll over the 529 to a 529(a) ABLE account.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42230941)



Reply Favorite

Date: April 6th, 2021 12:46 PM
Author: Territorial Hell

do you not pay taxes or something



(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42230931)



Reply Favorite

Date: April 6th, 2021 12:49 PM
Author: Bossy Autistic Tanning Salon

serious q, why would you worry about "saving for education" when

(1) the cost structure of higher ed is going to be upended in the next 10-15 years

(2) ur kids can take loans at lower than a nearly-risk-free rate of return...AND then "pay" the loans off in IBR and similar schemes

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42230950)



Reply Favorite

Date: April 6th, 2021 12:53 PM
Author: galvanic lilac feces cuckoldry

Ty. Hypos like these are why i made this thread. One of my concerns is being penalized for not using all the 529 funds for education

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42230985)



Reply Favorite

Date: April 6th, 2021 12:58 PM
Author: diverse magical nibblets

That is the problem if you over-save or if your kid gets a scholarship and you end up with leftover funds. Keep for grandkids, use for another kid, use for a nephew, or use for your art history MA when you’re retired.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231033)



Reply Favorite

Date: April 6th, 2021 1:05 PM
Author: up-to-no-good cobalt chapel travel guidebook

Can't it grow indefinitely and become, basically, the family scholarship fund? Or are there limits.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231089)



Reply Favorite

Date: April 6th, 2021 1:21 PM
Author: diverse magical nibblets

A lot of them have limits where you can’t contribute once the balance is past a certain amount (around $500k) but they can continue to grow.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231220)



Reply Favorite

Date: April 6th, 2021 1:59 PM
Author: up-to-no-good cobalt chapel travel guidebook

Right--more thinking of time limits. Like if I die with funds still in the 529, can the 529 live on for my grandkids and great-grandkids' benefit?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231535)



Reply Favorite

Date: April 6th, 2021 3:55 PM
Author: gold hyperactive clown

They are generally pretty lax on who can use the funds (kids, nephews, nieces, spouses, etc.).

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232222)



Reply Favorite

Date: April 6th, 2021 7:46 PM
Author: up-to-no-good cobalt chapel travel guidebook

Yeah it’s easy to change the beneficiary while I’m still alive. What happens when I’m det though?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42233407)



Reply Favorite

Date: April 7th, 2021 2:17 PM
Author: gold hyperactive clown

Good question.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42237392)



Reply Favorite

Date: April 7th, 2021 4:31 PM
Author: overrated cracking boltzmann half-breed

Some googling indicates it won't be part of your estate but rather is part of the beneficiaries estate at that point. So when you die it looks like it is locked in.



(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42238356)



Reply Favorite

Date: April 6th, 2021 2:00 PM
Author: vermilion stubborn set voyeur

i think if they get a scholarship you can withdraw the $ amount of scholarship with no penalty

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231551)



Reply Favorite

Date: April 6th, 2021 3:55 PM
Author: gold hyperactive clown

Shit, really?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232226)



Reply Favorite

Date: April 6th, 2021 3:59 PM
Author: overrated cracking boltzmann half-breed

Yep, but you do still have to pay taxes on the growth of course

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232255)



Reply Favorite

Date: April 6th, 2021 4:05 PM
Author: confused senate

If your kid gets a scholarship, you can withdraw the amount of that scholarship from the 529, and spend it any way you want.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232294)



Reply Favorite

Date: April 6th, 2021 12:59 PM
Author: Bateful Cream Death Wish

cr as fuck

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231041)



Reply Favorite

Date: April 6th, 2021 1:00 PM
Author: diverse magical nibblets

You’re more optimistic about (1) than I am. Costs have doubled+ since we were students.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231051)



Reply Favorite

Date: April 6th, 2021 1:03 PM
Author: Bateful Cream Death Wish

in which case you might stop to think, is this really worth it? I do realize that you are married to an asian woman, nevertheless

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231070)



Reply Favorite

Date: April 6th, 2021 1:26 PM
Author: diverse magical nibblets

It’s not worth $75k/year right now, but are you really going to tell your kid zhe can’t go to dream school when you’re a fancy lawyer? We will encourage ours to look at in-state schools if they’re still significantly less expensive at the time, but if they really want to go to one of our alma maters or get into another t20ish school at sticker, I don’t see how we would say no.

Thankfully Asian wife and I are aligned on nearly all spending decisions. We were thinking about private elementary and daughter got into most that we applied to, but none gave us a penny of aid and we couldn’t justify the expense.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231261)



Reply Favorite

Date: April 6th, 2021 1:28 PM
Author: galvanic lilac feces cuckoldry

How much was the private school? Is the public school she ended up attending any good?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231273)



Reply Favorite

Date: April 6th, 2021 1:33 PM
Author: diverse magical nibblets

Yes, our public school is very good and walkable from our house but 100% Zoom school for 8 months was not great and sparked looking for alternatives. The private schools are better and we plan to look again at MS and HS. Our daughter needed to be tested for some of the schools and tested very well and has been exhibiting some boredom signals at school so we have our eye on things.

Private elementary schools (secular and some “Catholic” schools, too) are in the mid to high $30Ks here. Two kids + expected family contribution to annual fund + having to drive to school instead of walking to neighborhood elementary and we couldn’t do it.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231320)



Reply Favorite

Date: April 6th, 2021 1:55 PM
Author: Bateful Cream Death Wish

"are you really going to tell your kid zhe can’t go to dream school when you’re a fancy lawyer? "

absolutely unquestionably yes. you want to go to a "dream school," get a free ride. mom and dad did. can't? OK, nbd, other schools are great too. it really doesn't make that big a difference and I believe this wholeheartedly.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231504)



Reply Favorite

Date: April 6th, 2021 4:05 PM
Author: Useless theatre corn cake



(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232290)



Reply Favorite

Date: April 6th, 2021 3:57 PM
Author: gold hyperactive clown

"but are you really going to tell your kid zhe can’t go to dream school when you’re a fancy lawyer?"

Oh yell yes. The way things are going, I might not even pay for in-state flagship.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232242)



Reply Favorite

Date: April 6th, 2021 1:04 PM
Author: Bossy Autistic Tanning Salon

Not saying education fees don't outpace inflation and that it's all an incredible jew scheme to entrench a parasitic and growing administrative class, but the BIGLAW payscale is up like 35%, too.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231079)



Reply Favorite

Date: April 6th, 2021 1:28 PM
Author: diverse magical nibblets

I do not get excited about my hard-earned money going to these places with insanely bloated budgets and constant shiny new buildings, but I think it’s likely to still be a valuable credential in 15-20 years (and a formative and generally positive experience for good kids).

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231283)



Reply Favorite

Date: April 6th, 2021 12:57 PM
Author: diverse magical nibblets

Yes, very likely, if: you live in a state where contributions are deductible and you make too much to contribute to a Roth IRA.

If not, still probably yes. The downsides are that you have to find a permitted use for the funds if you don’t need them for your kid (can be for another kid of yours or a niece or nephew, or you can keep the account for your grandkids) - otherwise you pay tax and 10% penalty; and they count as assets when you’re applying for financial aid, although if your income and assets are great enough (which doesn’t actually take that much) you’re not getting need-based aid anyway.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231019)



Reply Favorite

Date: April 6th, 2021 1:07 PM
Author: up-to-no-good cobalt chapel travel guidebook

Doesn't the kid need earned income for you to contribute to a Roth IRA on their behalf?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231102)



Reply Favorite

Date: April 6th, 2021 1:35 PM
Author: diverse magical nibblets

In your name or your wife’s name, not kid’s name. You just earmark it for education savings.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231332)



Reply Favorite

Date: April 6th, 2021 1:59 PM
Author: up-to-no-good cobalt chapel travel guidebook

I already max a Roth IRA for both of us (for retirement, not education). Still CR to do 529 for the kids after that?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231545)



Reply Favorite

Date: April 6th, 2021 1:29 PM
Author: galvanic lilac feces cuckoldry

What's the significance of the Roth IRA in your analysis?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231287)



Reply Favorite

Date: April 6th, 2021 1:34 PM
Author: diverse magical nibblets

Mostly flexibility: Doesn’t have to be used for education.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231327)



Reply Favorite

Date: April 6th, 2021 1:10 PM
Author: Coral Location Genital Piercing

400k per 529 per kid seems like a good hedge to me. Enough to contribute a substantial chunk toward higher education costs in 15-20 years but not so much that you're going to get fucked in the ass if little Jayden decides to go his own way.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231122)



Reply Favorite

Date: April 6th, 2021 1:30 PM
Author: galvanic lilac feces cuckoldry

10% withdrawal penalty is steep. I'd be pissed

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231293)



Reply Favorite

Date: April 6th, 2021 1:33 PM
Author: Coral Location Genital Piercing

Yeah but my point is you're probably going to spend it on something relevant, particularly if you have multiple kids. If you have a little left over boom it up on some hilarious "Adult Education Retreat" that Princeton hosts in Martha's Vineyard for a month in the summer. The spending definition is very, very flexible--it can even include things like mortgage and rent up to a set limit so e.g., you could buy a property in the area where your kid goes to school and use it as a vacation or rental property after he's done.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231312)



Reply Favorite

Date: April 6th, 2021 3:02 PM
Author: primrose spot hairy legs

That seems a little high. If you can contribute 2-300K to your kid's undergrad and if anything's left over their grad, that's awesome. I think kids should be on their own for grad school but that is more of a philosophical thing I have than an economic/planning one.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231878)



Reply Favorite

Date: April 6th, 2021 3:52 PM
Author: Useless theatre corn cake

CR, I'm shooting for all of college and 100k each for grad school ie shooting for 250-300k per kid on first day of college. My expectation is also that higher ed finance will get completely scrambled within the next ten years and so I don't want to lock myself into a specific state or too narrow a plan. 50k for grad school is what my parents provided for me, but only bc I went to a big state u flagship on scholly and they had 100k saved for college and I only ended up using half of it. It was very credited bc I really had no limits on what I wanted to do after graduation schoolwise. Could've used the money and gone to film school or done a masters at a higher ranked program that would admit me but not give me a fellowship. Could've also chosen to lol school at my big state u and graduated debt free. It's such a crucial and poorly understood phase of life for the UMC and I will want my kids to know they will have options and need to do the work to figure out how to take the best advantage to achieve their goals.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232197)



Reply Favorite

Date: April 6th, 2021 3:54 PM
Author: Buff bull headed hospital brethren

A T25 private school undergrad degree will cost over 100k per year in 10-15 years. That's assuming that there is finally some push back on costs. If it continues to grow at the current rate it could be in excess of 150k.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232210)



Reply Favorite

Date: April 6th, 2021 4:01 PM
Author: Useless theatre corn cake

I won't send my kids to any college that costs that much. It would be retarded to do that to them.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232273)



Reply Favorite

Date: April 6th, 2021 5:08 PM
Author: Buff bull headed hospital brethren

Unless they're signaling that they want to do some truly insane major like film studies you should send your kids to the best school possible.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232647)



Reply Favorite

Date: April 6th, 2021 5:17 PM
Author: Bateful Cream Death Wish

because ...... ?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232704)



Reply Favorite

Date: April 6th, 2021 5:22 PM
Author: Buff bull headed hospital brethren

Because you want them to be successful and that's ((moderately)) connected to educational attainment and institutional prestige as a proxy for connections / networking / quality of schooling / opening doors? I don't have time for the whole anti-establishment xo 2021 just send them to state school to be a meth-smoking HVAC technician so if that's where you're going let's just spare the subthread.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232736)



Reply Favorite

Date: April 6th, 2021 7:38 PM
Author: Useless theatre corn cake

I will stipulate that PHYSMC deliver the benefits you describe. If one of my kids gets into one of them, that's a good problem to have and we will figure out how to pay for it if his heart is really set on it. But my sister's youngest was 3rd in his class with a 4.0+/4000 and didn't get into any top 10 ug and had some strong legacy at P and decent at H and S, so I'm not expecting that my white sons will fare much better 10+ years from now, but would be happy to be wrong.

Going to an LAC is a net negative in terms of connections/networking/opening doors v. Big State UG. The only discussion is brand name prestige T20 UGs, so e.g. Cornell doesn't mean shit or do dick for anyone that a UT/UNC/UCLA/UCSD degree wouldn't do just as well and UMich/UVA/Berkeley would do better. Even the Brown/Dartmouth/Vandy/Rice level is debatable. So if we're really just debating the relative merits of Duke/Penn/Chi/JHU over state flagship UG, I'm going to expect my kid to understand that paying ~500k more to attend a T6-10 UG is dumb, and if he's smart enough to get in he will get that I'm right, and if he's having any trouble with the concept I will make sure to take him to see the respective talent profiles of the female students at these places and that should do the trick.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42233370)



Reply Favorite

Date: April 7th, 2021 4:23 PM
Author: Bisexual Sanctuary Nowag

All of this could very well change in the next decade. For "diversity"/"equity" reasons, the top schools are already starting to move away from the SAT/ACT, which, being essentially an IQ test, is the only reliable way to judge merit. In a decade, the SAT/ACT will probably cease to exist. The high schools might even succeed in abolishing AP tests for equity reasons. So there will be no good way for Harvard/Yale/Princeton, etc., to select on the basis of merit. Employers will realize this and will give much less weight to those schools in deciding whom to hire. In a decade, the CR might be for kids to go to their state's flagship on the cheap.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42238293)



Reply Favorite

Date: April 6th, 2021 1:31 PM
Author: chocolate arousing stag film sandwich

my state allows me to buy the credit hours now for the benefit of my children by name. i have a total of 3.5-4 years between the 3 of them paid for.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231301)



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Date: April 6th, 2021 1:34 PM
Author: Coral Location Genital Piercing

Pre-funding is different from a 529. With a 529 you can spend the money wherever you want.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231325)



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Date: April 6th, 2021 4:01 PM
Author: gold hyperactive clown

We used to have half of our college savings in a program like that, but they offered a significant cash incentive to convert to a market-based plan, so we did that.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232270)



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Date: April 7th, 2021 10:15 AM
Author: Burgundy bawdyhouse

So your kids are already constrained by the iron chains of NO<><><>IVY

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42235910)



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Date: April 6th, 2021 1:37 PM
Author: sepia swashbuckling space sex offender

529 you're locked into whatever shit fund the plan operator manages. Sure you get tax free growth, but what's the annual return? 5%? YOLO your kid's future on TSLA calls and the higher returns will more than make up for the long-term capital gains treatment and the money has no restrictions.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231344)



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Date: April 6th, 2021 1:41 PM
Author: diverse magical nibblets

You can pick a state that has options you’re happy with, subject to tax matters depending upon your state. If you’re a great stock picker that beats the S&P or mutual funds consistently by at least the capital gains rate and you’re willing to have this level of risk with your kids’ education funds, then sure.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231373)



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Date: April 6th, 2021 1:42 PM
Author: Coral Location Genital Piercing

Narrator: "No one there was a great stock picker. They just thought they were hedge fund gods because of an exotic rate environment and a bull run."

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231389)



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Date: April 6th, 2021 3:05 PM
Author: primrose spot hairy legs



(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231895)



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Date: April 7th, 2021 10:08 PM
Author: vermilion stubborn set voyeur

You can buy index funds in mine

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42239992)



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Date: April 6th, 2021 1:47 PM
Author: Cruel-hearted dilemma

Only after maxing 401k, HSA, IRA/Backdoor etc. If you have to choose, fund these first.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231426)



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Date: April 6th, 2021 1:49 PM
Author: Bossy Autistic Tanning Salon

cr

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231447)



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Date: April 6th, 2021 3:05 PM
Author: primrose spot hairy legs

Done, then what?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231898)



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Date: April 6th, 2021 3:56 PM
Author: overrated cracking boltzmann half-breed

Sex with men for money

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232229)



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Date: April 6th, 2021 5:21 PM
Author: gold hyperactive clown

Question for someone who hasn't thought much about this: Why is maxing IRA before contributing to 529 the way to go?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232731)



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Date: April 7th, 2021 7:35 AM
Author: Idiotic spectacular queen of the night boistinker

You can always use contributions to a Roth IRA to pay for college and they aren’t considered for financial aid purposes I think. Also, you could have the kid take loans and pay them off with Roth proceeds (including appreciation) when you are 59.5 years old.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42235411)



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Date: April 7th, 2021 8:59 AM
Author: Bateful Cream Death Wish

more fungible

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42235568)



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Date: April 7th, 2021 10:13 AM
Author: up-to-no-good cobalt chapel travel guidebook

This is definitely the way to go, Roth first, but a Roth is only $6000/year max, it’s not like you shouldn’t be doing a Roth AND additional savings anyway.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42235899)



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Date: April 6th, 2021 2:19 PM
Author: Appetizing bistre laser beams

I’m waiting for the new 530 plans coming out soon that are supposed to be even better

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231607)



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Date: April 6th, 2021 2:45 PM
Author: Bateful Cream Death Wish

three months later they release the 531MAXXX

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42231741)



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Date: April 6th, 2021 5:17 PM
Author: razzmatazz duck-like mad-dog skullcap toaster

Why not UGMA? Yes tax & FAFSA hit, but tax hit overstated for a kid, 529s reduce FAFSA eligibility too, but far more investment flexibility to earn more plus, 529 fees are utter shit, and UGMA can be used for anything the kid wants.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232701)



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Date: April 6th, 2021 5:18 PM
Author: pea-brained hideous school cafeteria

Anyone do this for k-12?

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42232708)



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Date: April 7th, 2021 7:01 PM
Author: pea-brained hideous school cafeteria



(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42239210)



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Date: April 6th, 2021 7:50 PM
Author: racy emerald range pervert

Not a MFE, but I'm pretty sure there's no point if you're in a state where it's not deductible from your income.

My plan is just to dump money into a new $1-2 million dollar investment property every 3-5 years and then if I don't have the cash in hand to pay for kids college, I will just refinance one of them at that time.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42233420)



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Date: April 7th, 2021 7:03 AM
Author: concupiscible station

529s are a no-brainer - if you use them for kids educational expenses, great, if not the 10% penalty only applies to investment gains and thus is offset by the deferral benefit of not paying taxes on the earnings of the 529 assets until withdrawal. The only real tax downside is the ordinary income characterization of penalized 529 withdrawals. If you have even a 1/3 chance of using the funds for kids’ education then you’re better off than with a taxable account.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42235387)



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Date: April 7th, 2021 10:14 AM
Author: brilliant site hissy fit

Not even close. The best way to "save" for their education is to game the minor emancipation rules and get free tuition and board at a top school.

(http://www.autoadmit.com/thread.php?thread_id=4804485&forum_id=2#42235905)