Good morning. My daughter just got into one of her top choice schools, which happens to be a private(Ivy). Ideally, I would love to pay for everything and I might be able to do, but I am not sure what direction to go, so I am looking for some advice. Here is is the:
College Cost: Appx: 50k/year
Her 529 plan: $110K
Now, where to get the other funds. My wife and I have a mutual fund of our, appx: 62K which we would consider using for this. I am currently maxing out my 457 plan which is $692/check based on 26 checks. My wife is currently contributing $400/check to her 529 plan. NOTE: I have two other kids which my wife contributes to. So, one thought was for me to decrease my contribution to my 457 and open a 529 and contribute(it's my understanding that I cannot contribute to her established plan and need to open another.) Any thoughts on this? Thanks in advance.
Submitted March 31, 2017 at 07:49AM by sandman5512 http://ift.tt/2oiCjaV
