529 for kids education

[no01]

12 hours ago, rmJU72 said:

fidelity has s&p option in 529 too. I’m planning to put in total of 100k per kid and forget abt it. Putting 30k per year - 15k per parent.

529 money can go to ur trust too estate too, and fund ur grandkids too.

https://www.barrons.com/amp/articles/how-to-use-529-plans-loophole-51622242163

enti 100K per kid ah? vallu college velle time ki entha avvochu ah money? 200K?

my opinion is, its good that kids dont have to worry about college fees...after graduation, they can happily earn and keep it for themselves instead of paying hefty education loans for a very long time. But what I heard from thella folks is, ila entire education loan parents ey kattesthe, inka vallaki responsibility anedi theliyadhu...they spend and spend like crazily and ah process lo leni poni bad route lo vellochu ani. Koncham bayam undali vallaki that they need to save money ani.

ila saving culture theliyaka chaala mandhi thellolu life spoil chesukunnaru...so kids ki young age nunde saving and spending responsibly anedi alavaatu kavali ante, they need to know that their education loan is their responsibility and not parents. So dont pay entire education fee...oka 30% aina vallane kattamanali. Instead put that money somehwere else and later life lo you can give them anyway.....my two cents

[rmJU72]

2 minutes ago, no01 said:

enti 100K per kid ah? vallu college velle time ki entha avvochu ah money? 200K?

my opinion is, its good that kids dont have to worry about college fees...after graduation, they can happily earn and keep it for themselves instead of paying hefty education loans for a very long time. But what I heard from thella folks is, ila entire education loan parents ey kattesthe, inka vallaki responsibility anedi theliyadhu...they spend and spend like crazily and ah process lo leni poni bad route lo vellochu ani. Koncham bayam undali vallaki that they need to save money ani.

ila saving culture theliyaka chaala mandhi thellolu life spoil chesukunnaru...so kids ki young age nunde saving and spending responsibly anedi alavaatu kavali ante, they need to know that their education loan is their responsibility and not parents. So dont pay entire education fee...oka 30% aina vallane kattamanali. Instead put that money somehwere else and later life lo you can give them anyway.....my two cents

Yep, put in and pay fees as much as you think is right…the rest isn’t wasted…it can go to your estate/trust for your grandkids, etc.

[AFDB_Director]

1 hour ago, no01 said:

enti 100K per kid ah? vallu college velle time ki entha avvochu ah money? 200K?

my opinion is, its good that kids dont have to worry about college fees...after graduation, they can happily earn and keep it for themselves instead of paying hefty education loans for a very long time. But what I heard from thella folks is, ila entire education loan parents ey kattesthe, inka vallaki responsibility anedi theliyadhu...they spend and spend like crazily and ah process lo leni poni bad route lo vellochu ani. Koncham bayam undali vallaki that they need to save money ani.

ila saving culture theliyaka chaala mandhi thellolu life spoil chesukunnaru...so kids ki young age nunde saving and spending responsibly anedi alavaatu kavali ante, they need to know that their education loan is their responsibility and not parents. So dont pay entire education fee...oka 30% aina vallane kattamanali. Instead put that money somehwere else and later life lo you can give them anyway.....my two cents

saving alavatu avali ante, encourage them to buy home. Education loans antha worst inkoti ledhu ikkada. aa interest kattadanike sagam jeevitham ayipothundhi. I know ppl in their 50s still have edu loans. 

savings, spending antha manalni chusi nerchukuntaru. they will make mistakes for sure but guidance isthu (not forceful) manam sari ayina path loki vachela chuskovali. home loan, retirements savings tarvata unna money antha jalsa cheyyi ra ante chalu. we need to make them understand the power of compounding at young age. 

 

[Dhevudu2]

You might not be in same state when your kids go to college or your kids may get scholarship.. then what will happen to the 529 money