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/biz/ - Business & Finance

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17354730 No.17354730 [Reply] [Original]

For those of you /biz/ anons who have successfully mated and brought children you actually give a shit about into the world, how do you financially plan for college?

529's are they worth it? How much are you investing a year for the fuckers?

I know you can't borrow money to retire, but you can borrow for college and all that....

>> No.17355032
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17355032

>>17354730

>> No.17355068
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17355068

>>17354730

>> No.17355076

>>17355068
Mmmm, dingleberries.

>> No.17355091

>>17354730
I used to administer 529s for a major broker dealer but it's been like 5 years so rules may have changed. Depending on the state you live in, you might get a tax benefit for contributions. They cover most shit for qualified schools and are tax free distributions, and you can open one under your own name/social and then transfer it to your kid if you want to start early. My parents had one for me. They're not a bad idea.

>> No.17355092

>>17354730
if ur that poor, then you dont really need to worry about saving for college. any decent private school will pay for all their expenses, assuming that you are actually poor

>> No.17355095

>>17355032
hot

>> No.17355112

>>17354730
If you have questions just call Vanguard/Fidelity/anyone who offers one and ask a shit ton of questions. Also keep your eye on any expenses for the plan, and expense ratios for any underlying funds.

>> No.17355142

>>17355091
If you want to start before your kids are born*

>> No.17355232
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17355232

>>17354730
College is a scam. Think about what you wanna do in life, what skill you need to aquire that which you seek, and follow an online course about it. Might I ask why you want to go to college fren?

>> No.17355253

>>17355232
ironic that the guy who thinks college is a scam can't comprehend a simple paragraph

>> No.17355420

>>17355091
Thanks. OP here.

I know how these 529's work and it seems pretty solid, but I also know most, if not all of /biz/ successful people already max out their deductions every year anyway so I thought maybe there was a better vehicle for an 18 year college investment plan outside of a 529.

How much do you put away per kid?

>> No.17355519
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17355519

>>17354730

>> No.17355618

>college
>not investing your money so you can hire wagecucks to do the job you would be doing

cringe

>> No.17355677

>>17355420
The benefit is really the tax deductions. You can go ugma/utma, but then it's just a regular brokerage account for your kid. I don't have kids so I can't give you answer on how much. I'm sure there's estimates/calculators on the internet though.

>> No.17355705

>>17355677
And tax free withdraws.

>> No.17355726

>>17355032
lmao I love you retards

>> No.17355814

put 10k a year dca into voo