[USER]

I want to share a big win. I had set a goal to fund my sons 529 with $100,000 by the time he turned 3.

I chose this number assuming college costs around $400,000 and that the amount would double twice by the time he goes to college.

Pretty sure college will cost more and money won’t probably exactly double twice, but I’m okay with letting him take a loan for the surplus.

He is 2 years 7 months old right now and I’ve hit my goal. His account has $100,000 as of today!

[Sheela]

Buy him Bitcoin with this much money and he won’t have to work a single day in his life when he is and adult

[Stelisa]

I’m so thankful my kids have free college tuition! Sheesh I didn’t realize it’s like 400k.

[Micah]

Make sure you don’t tell you son about this so he doesn’t use it as a crutch to fall back on.

Let him strive to be the best he can be getting scholarships.

Awesome job!

[Jadey]

Congratulations! He should be able to afford many many college educations with 400k.

[Erin]

As the parent of a 2025 HS graduate who WISHES she did this, congrats!

[Tony]

As someone who works in higher ed, I would first prioritize *where* he goes to college and set up guardrails around that decision before figuring out how to pay for it.

With the emergence free/discounted community college programs to complete GEs and the transferability of AP credits, college can be a relatively affordable decision.

The ROI of private schools is *vastly* overrated, and success in college primarily depends on the aptitude, motivation, and goal-setting of the student attending college over the college itself.

Even in 16 years, the cost of college attendance should not exceed 200K if done smartly.

The smartest path is usually to get as many AP credits as possible done in HS, get the rest of the GEs done at a CC (either during HS or directly after) and then transferring into the in-state school with a 2+2 articulation agreement that is a best match for the student’s career aspirations.

Extra points to living at home and taking a pay-as-you-go approach to avoid all the extra outsized costs that come from 9 months of young adult summer camp.

[Bethany]

If it is in a 529 and college is not that expensive or he gets a ton of scholarships… what do you do with the remaining?

I want to start to save for my kids, is 529 the best route?

[Ellis]

Wow! Congrats on saving so much so quickly
Can I ask your rationale for why college would cost $400k?

If it’s that expensive, the ROI may not be there

[Lauren]

Wow that’s awesome. Is that all your own contribution or does that include earned interest?

[Ann]

Incredible! What is your (and your partner’s?) yearly income to be able to save so much so quickly?

[Jennifer]

That’s awesome and congrats! I had a lot of the same rationale though I did the backwards math at the time and had to out $75k into the 529 by the time she was 1.

I hit that goal and now just let it grow.

It’s such a relief to know I can do this for my child and it’s done! It feels like crossing things off the list. So good haha.

I will never pay off my mortgage early, but this 529 experience helped my understand why others would.

Way to go!

[Nancy]

Well done, the importance of doing it early enough but we as humans it is so hard to get the compounding concept and the future value of money

[Liz]

Congratulations! This is a huge accomplishment! Please just keep in mind students may only take out about $5k in loans annually-the rest has to be parent loans (if you have a gap)

[Rise]

I wish I’d had the advantage of an Ivy League school, especially right out of high school and not as the adult returning student I was!

In addition to a stimulating environment and doors open because of the name on your resume, there is a network you build that lasts a lifetime.

We don’t want to think elitism works in America, but it still has some great advantages.

Kudos to you for saving for your child’s education, wherever he goes!

[Lisa]

Awesome work!! Very inspirational! We are saving monthly, but front loading it is the way to go.

[Laura]

Wow! I have 10k in my kid’s, she just turned 10. I’m proud of mine though as my family couldn’t help with anything.

As an older parent, I’ve had to prioritize my retirement too.

[Sarah]

That’s great!
I feel this is a very personal decision.
Had my education been paid for, I would have squandered money away and not cared.

Instead, I had to delay going to college, my grandmother co-signed on a student loan for me, but it was for $10K and I had to make it work.

I got my nursing degree, worked my behind off cause I knew I only had one shot. I went to community college college, then the hospital paid for me to get my BSN.

I have no debt from school.

Others I work with have $100K for the same degree because they went to an expensive school.

[Dara]

Just be aware as they get older they are very much their own person with their own decisions.

They may not want to go to college, they may start working in a trade, their work may pay for all their education, they may get a full ride scholarship.

They may take your free money and party away their 4 years or more accomplishing little to nothing.

If our kids want to go to college they pay their first year, as long as they do well we will cover the following years.

The first year will be gifted back to them upon graduation to go toward an asset- work vehicle, start a business, new home etc.

Parents have hopes and dreams for their children and it’s wonderful to be able to provide for them but they often don’t share the same aspirations.

It’s wonderful you’ve done this, Idk if I’d be saving anymore though.

May be best to do it in an IRA for your child as they get older or in a regular brokerage account.

[Author]

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