I skipped saving for college. And I wonder if that would be a good idea -- Tafkam Hokie 08/14/2018 4:38PM
By the time your kid gets to college it will be free -- fordham 08/14/2018 10:31AM
250k to 300k seems like an awful lot of college money for one kid. -- RoswellGAHokie 08/14/2018 10:01AM
Per the college calcs -- HokieForever 08/14/2018 11:04AM
The number of people who could afford a $250K degree, even with loans... -- Gator Hokie 08/14/2018 11:52AM
Agree, but I would rather take the 10% penalty -- HokieForever 08/14/2018 11:59AM
You'd pay income taxes on the growth piece too, if not used for educ., -- Folly Beach Hokie 08/14/2018 12:18PM
Right but assuming you put this in a normal investment account -- HokieForever 08/14/2018 12:54PM
That's my read on it yes, although predicting cap gains tax rate in the -- Folly Beach Hokie 08/14/2018 1:06PM
Predicting socialized higher ed is no less "fool's gold" -- Pylons 08/14/2018 1:27PM
Thats sort of where i am... -- Folly Beach Hokie 08/14/2018 1:37PM
Yep, we are in the same boat -- HokieForever 08/14/2018 1:16PM
Can you increase 401k/403b or another work sponsored plan contribution -- Folly Beach Hokie 08/14/2018 1:33PM
That's because you're using 2018 dollars instead of 2030-2035 dollars -- Folly Beach Hokie 08/14/2018 10:04AM
Agree, my 1983 dollars way different from 2004 dollars ** -- 83Hokie 08/14/2018 12:47PM
I get it. And private school may cost that. Inferred from your post you’re -- RoswellGAHokie 08/14/2018 10:11AM
Schools should base their tuition fees on what grads will make in their... -- EDGEMAN 08/14/2018 10:21AM
Schools should reduce the salary of professors. -- hoosnowahokie 08/14/2018 10:33AM
Why shouldn't someone who has trained to be -- Pylons 08/14/2018 11:08AM
How about my old boss, an administrator, who makes over $200K + benefits? -- Gator Hokie 08/14/2018 11:34AM
Maybe. "An administrator" is pretty vague. -- Pylons 08/14/2018 11:53AM
It's not the first place I would start, certainly. -- hoosnowahokie 08/14/2018 11:25AM
Where did you find $130k as the average? -- Pylons 08/14/2018 11:48AM
Virginia Tech Factbook -- hoosnowahokie 08/14/2018 11:54AM
Ok, so $130k is for *full* professor, which -- Pylons 08/14/2018 11:59AM
6 figures, B'burg cost of living and typ. professor's hours - very nice gig ** -- RTFC 08/14/2018 12:27PM
Absolutely. -- Pylons 08/14/2018 12:47PM
Didn't mean to imply -- RTFC 08/14/2018 12:58PM
It's not just "high level research guys" that could make more -- Pylons 08/14/2018 1:12PM
Maybe I said it wrong, but that was kind of my point -- RTFC 08/14/2018 3:39PM
Maybe base professor salaries on their students future earnings and/or... -- EDGEMAN 08/14/2018 10:40AM
It already works that way to some extent -- Pylons 08/14/2018 11:55AM
They can if subsedized and cost control is lost. I'm not saying they will, -- Folly Beach Hokie 08/14/2018 10:16AM
Our kids were born 30 years ago so options were different, funded UTMAs -- 133743Hokie 08/14/2018 09:46AM
We started a similar savings plan, and right now are trying to continue it, -- Late 80s Hokie 08/14/2018 09:45AM
I did the prepaid, and got it overwith. Took me a couple of years......... -- vt_mughal 08/14/2018 09:38AM
If such a thing happens, you're probably fine for a couple of reasons -- Synaesthesia 08/14/2018 09:08AM
I agree with your point 1. I just dont know what they would convert to -- Folly Beach Hokie 08/14/2018 09:27AM
I mean, you already have a case of 'haves' and 'have-nots' -- Synaesthesia 08/14/2018 11:44AM
I would guess 1 of the prescriptive fixes is tighter measures on that debt. -- Folly Beach Hokie 08/14/2018 12:12PM
Think that no matter what, some cost will arise to consume the 529 -- Synaesthesia 08/14/2018 2:10PM
Sort of agree with the caveat that it's not just the 10% penalty, but also -- Folly Beach Hokie 08/14/2018 2:28PM
Fewer kids will be attending traditional 4 year colleges in the future -- 133743Hokie 08/14/2018 09:53AM
Or kids will find alternative methods to pay for it, such as... -- EDGEMAN 08/14/2018 10:47AM
That’s how I did it. Airborne! ** -- VT BronzeBacker 08/14/2018 11:25AM
RLTW -- EDGEMAN 08/14/2018 11:26AM
Sometimes ** -- VT BronzeBacker 08/14/2018 1:29PM
It's possible, certainly. ** -- Folly Beach Hokie 08/14/2018 09:57AM
Are you maxed out on your IRAs? I think IRAs can be used for college costs. -- Hokie360 08/14/2018 09:06AM
I've looked at IRAs, as well as loans from 401k (to plug any funding holes) -- Folly Beach Hokie 08/14/2018 09:13AM
Just make sure you keep funding your actual retirement accounts. -- Hokie360 08/14/2018 09:24AM
IMHO, there's no chance of fully subsidized education. We barely got -- CochraneResident 08/14/2018 09:05AM
And medicare, medicaid, social security and debt already eat up 80% of fund -- 133743Hokie 08/14/2018 09:55AM
Agreed. ** -- RoswellGAHokie 08/14/2018 09:45AM
Why a trust? ** -- Pylons 08/14/2018 08:47AM
Protections from others and conditions/age of distrobutions... -- Folly Beach Hokie 08/14/2018 08:57AM
Speaking of lawsuits - do you have an umbrella policy? ** -- Hokie360 08/14/2018 09:57AM
Nope ** -- Folly Beach Hokie 08/14/2018 09:58AM
Those are pretty cheap - maybe $130 for a $1M policy? -- Hokie360 08/14/2018 10:04AM
I have 3 kids, I'm hopeful at least one will go the 2 year community -- BG Hokie 08/14/2018 08:30AM
They'll all probably go to private schools, out of state. :) ** -- EDGEMAN 08/14/2018 10:22AM
From an affordability route, comm college is a great deal still... -- Folly Beach Hokie 08/14/2018 08:36AM
That's correct in respect to the Virginia CC system -- EDGEMAN 08/14/2018 10:31AM
If it’s good for government probably not good for you ** -- 83Hokie 08/14/2018 08:11AM
If you could predict all of that, you'd already be rich enough. ** -- 48zip 08/14/2018 08:10AM
I'm not trying to make a buck, i'm just trying not to lose a quarter mil :) ** -- Folly Beach Hokie 08/14/2018 08:12AM
Politically, there's no way they alienate all the parents who put $ in a -- CochraneResident 08/14/2018 09:25AM
At worst you pay a 10% penalty plus tax on the gains. -- vtbones 08/14/2018 08:25AM
Right,the 10% penalty and income from earnings tax is what I want to avoid. -- Folly Beach Hokie 08/14/2018 08:28AM
I just meant you wouldn't need to save anything, but I hear ya. -- 48zip 08/14/2018 08:22AM