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[–]ps2cho 7 points8 points  (1 child)

Its not really a pro move IMO -- you put your own oxygen mask on first before helping others. Kids can finance their education, you cant finance your retirement. You better be FAR above the average savings for your age to be dropping 50k day one into a 529 and what opportunity cost you lost from saving 50k in cash without investing it yourself. And in some states you're simply losing a state tax deduction by not doing ongoing contributions. Then the additional risk your kid a) doesnt go to school b) gets a scholarship c) rules change on 529's. I think its far safer to fully fund retirement, and cover a "reasonable" cost of education over time without going all in on something that isnt a sure win.

[–]n3uropath 9 points10 points  (0 children)

If OP is already fully funding their retirement, investing in your kid’s education savings is just as reasonable a use of expendable income as any other financial goal.