Last year my mom passed away from cancer 4 months after my daughter was born. Before she passed she told my dad that she wanted some of her life insurance money to go into my daughter’s newly opened 529 account, and I am so very grateful for the gift! My dad is still working and can easily support himself so there’s no concern that he needed all the life insurance money.
So my 9-month old daughter has a CA ScholarShare 529 account with about $25k in it. Does anyone know how I can calculate (or a good tool to do it) how much more I need to put in the account over the years? Starting at such a high balance, and with almost 18 years to grow if we only use it for college, I don’t want to take more from my own budget than I need to contribute. What’s a safe amount to target for a 529 account?
Thanks so much for any help!! I’m a longtime lurker of this sub and there’s some wonderful advice on here!!
Submitted May 22, 2019 at 10:35AM by cbk2015 http://bit.ly/2VU9HWx
