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  1. #1

    529 Education Plan 529 Education Plan

    Let's start!

  2. #2
    How much do you put per year on 529?

    I'm thinking of contributing ~$10K a year, capping it at $50K for the first kid. Then starting another one for the other kid.

  3. #3
    As with retirement savings, the sooner you start, the easier it is. For both of our boys, we started 529 plans for each of them. After the initial $3k minimum investment, we've only been contributing ~$100/mo apiece, with it set up to automatically increase the contributions by $10/mo each year. After just 2.5 yrs, DS1's 529 has already grown to more than $10k. With 15 years to go, I'm confident that we'll be able to help cover alot (if not all) of our sons' educations.

  4. #4
    We started my kids 529 plan when they were few months old. We only increased last year by $50, a total of $150 a month in VTSAX & S&P500 through Vanguard.
    it now little over $20K after 12 years. Because of my veterans status, the tuition would be likely be waived if school. So we don't plan to put too much money but enough to cover their living expenses.

  5. #5
    The amount we had going in monthly varied a bit over time but for the vast majority of time it was $300/month. We accumulated about $60,000 by the time college came along. We had enough to completely cover years 1 and 2, partially cover year 3, and had a small amount ($2,500) left to apply toward year 4 when we closed the account.

    Contribute as much as you can after meeting all of your other financial needs and goals including retirement planning. However much you can save will be a benefit when the time comes.

 

 

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