Kids of EB
- Thread starter FLBuff PE
- Start date
Help Support Professional Engineer & PE Exam Forum:
For those with more than one kid, how are y'all distributing funds for college savings? BabyYMZ will be entering college 2 years after MiniYMZ and I've been putting equal amounts into their 529 accounts, but I'm wondering if it would be wiser to put the bulk of our savings into Mini's account and then transfer the remainder into Baby's account when she's ready to enter college. Or does it not matter because the funds are being invested the same in both accounts?
My main concern with not putting in equally to both accounts is that I plan to review the 529 statements with them when they get older, and I don't want any crying about how I don't love one or the other as much based on the different contribution levels.
My main concern with not putting in equally to both accounts is that I plan to review the 529 statements with them when they get older, and I don't want any crying about how I don't love one or the other as much based on the different contribution levels.
snickerd3
Taking suggestions
how would they ever know?
engineergurl
Resident Sweet Cheeks
- Joined
- Apr 30, 2008
- Messages
- 13,258
- Reaction score
- 945
snickerd3
Taking suggestions
this problem is easily solved...let them pay their own way through school. or just set an equal amount and let it grow...if they need more it is on them.
Ble_PE
I need a beer.
I try to keep my contributions even and I think I've done a pretty good job with that so far. We're not putting a ton away right now for them, but I try to keep a set amount getting invested monthly and then I'll put in a lump sum for their birthday's and Christmas. We hope to be able to pay for their tuition hopefully and then see what else we can do. They will be expected to work part-time for spending money though. I believe that helps them learn about money management and builds responsibility.
Thanks Tex and Ble. Ble, sounds like we're approaching this in similar fashion. And props to you and the Mrs for contributing on a single income!!
I know these are good ways to approach it, but I prefer to help them because I can afford to. I'm willing to shop thrift stores and put off my dream kitchen remodel if it means they can focus on their studies and graduate without a massive amount of debt. Everyone views it differently though.
Last edited by a moderator:
Ble_PE
I need a beer.
Thanks, it gets tough sometimes and I put mrs. ble's and my retirement first, but I still want to help my kids out as much as I can. I see things the way you just said, if I can help them from taking on a lot of debt, then I want to be able to do that.
This is what we've told Tex Jr. is the most important thing about his college financing. Even it means going to a less prestigious public university.
We've also told him that he needs to save his money that he is making this summer for any extras that he wants this fall, so he has a little nest egg built up so he won't have to work while he's in school.
Dexman PE PMP
Internationally PMP'n his PE-ness
Too many things the parents are "supposed" to buy for their kids now. I will support them where I can, but don't expect me to buy them a car and pay for their college. They can get a job just like I did.
Dexman PE PMP
Internationally PMP'n his PE-ness
On a much more positive note, Mini-Dex #2 finally learned how to ride a bike without training wheels.
funny you mention bikes, Dex because NJ #1 has been beggin me to get her bike out because she wants to start riding it. Albeit with the training wheels but this is cool. Just need to patch the tube first.
