My wife and I have been aggressively saving for our kid's college fund. We opened his UESP 529 a year before he was born with a $50k one-time payment and since have been paying $1000/month.
As of today, the account is worth $100,076 and he's about to turn 2 years old.
We are thinking about having a second kid in the next 1-2 years and our thought would be to split the fund once the second kid is born.
Are there any better places to put money for our kids? Our goals are:
- Pay for their educations 100%
- Give them enough money for a home down payment or pay for their house 100%
I know these goals seem crazy but we're trying to make sure our kids can do the same for their kids.
Other info to note: Our home is paid off One car payment @$4000 remaining ($400/month) Total household income @ $125k Contributing 10% of our income to various retirement funds. Employer matching 9% toward retirement
We're both in our mid-thirties.
The questions is have are:
- How much is too much to save for college?
- Where else should we save money for our kids?
- Is there something I'm missing, should I be saving for something I'm not thinking about?
Submitted July 05, 2017 at 09:30AM by _shittyadvice http://ift.tt/2sLRKpR
