Investing in 529 college savings plan

Siemens / Eng Sacred
Jan 23 9 Comments

Do you invest in a 529 college savings plan for your child? If yes, how much do you contribute monthly/weekly? I was checking out the scholarshare529 plan and according to their calculator it’s seems I will need to save close to ~700k to send my child to private engineering school after 18 years, accounting for college tuition inflation at 6%.

I just chose engineering as an example, but other disciplines are high too.

Edit: Please also mention your preferred 529 savings account. Currently, I am investing $200 per month in ScholarShare529 saving plan in a passive Age based portfolio.

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TOP 9 Comments
  • Okta nfc
    Inflation at 6% means we're all screwed.

    I try to put 5-10k/year in it with the assumption that "education" then won't necessarily be college.
    Jan 23 4
    • Same here 10k per year with assumption that education won't be necessary
      Jan 23
    • Siemens / Eng Sacred
      OP
      I know. I was amazed at the inflation rate they attribute to college tuition. I have a similar viewpoint that college education won’t be necessary in future. With online courses becoming ubiquitous, I am hoping everything is available for free on platforms similar to YouTube.
      Jan 23
    • Okta nfc
      Inflation of just college? That makes more sense.

      College tuition is a fucking scam. I'm waiting for that bubble to bust.
      Jan 23
    • Brightcove mad_t00th
      Lol. I feel so much better now. I had a child 4 months ago and wanted to make sure it had enough for college so I bumped up all the savings to the college account. Saving 50k per year till I get to 500k and then just letting it compound. I thought I wad screwed with what I calculate.
      Jan 23
  • Intel Pal$1?
    $150K saved total for multiple kids, plan to get to $500K by the time they get to college age. Should cover state school + housing.

    Note that “inflation” as it relates to college education is just for the list price. The game the last 40 years has been massive price discrimination where 70% of people get aid. That trend will likely continue.
    Jan 23 3
    • Siemens / Eng Sacred
      OP
      Wow! Good job on those savings. How long have you been saving?
      Jan 23
    • Intel Pal$1?
      Thanks. About 5 years; took equity from my first house sale and put it into a 529.
      Jan 23
    • Amadeus Trick2g
      Are you working in Intel?
      Jan 23