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College funds

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  • ~Kelli~ ~Kelli~'s Avatar 01-08-07 | 05:59 PM
  • Deanna-- i had a similar situation
  • Susan Susan's Avatar 01-08-07 | 06:44 PM
  • we have a 529 set up and we contribute what we can when we can until i start working again then we will contribute more on a regular basis. i plan on paying for as much of their education as i can including graduate work.
  • Dopey406 Dopey406's Avatar 01-09-07 | 10:51 AM
  • Kelli, we seem to have lots of similar situations.
  • Oreo Oreo's Avatar 01-09-07 | 11:01 PM
  • My boys have 529's started by my mom. She pays into it for them with each birthday and Christmas and only gets them small gifts. It works for us and adds about $200/year to the $1500 start they have. I add when I get a bonus for extra work at work.

    Once we don't pay daycare, the investment on our part will go up.
  • wagnerkr wagnerkr's Avatar 01-11-07 | 01:29 AM
  • My dad had some kind of a term life insurance policy on me when I was growning up and when it matured he put it in an account to earn interest. When Lucas was born he asked what I wanted done with the money so I asked him to put it away toward Lucas' future. The account is in my dad's name and I'm not sure what type of account it is. It's some type of a trust fund with Lucas named as the beneficiary and it earns interest, but I don't think any money is being put into it other than the interest earned. I'd like to do something more aggressive at some point, but I agree with the others that kids should also have some responsibility in paying for their higher education and not expect mom & dad to foot the entire bill.

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