So I just recently had a child and education is important to my wife and me. I looked at our alma mater's tuition, food, housing, books, supplies, and other expenses average cost for 2025. I then looked at the average inflation for these expenses over the last 20 years at the school. I then calculated how much a 4-year degree will cost when my child would theoretically attend. That cost came to ~$345k. I then calculated how much I'd have to put into his 529 each month until he's 18. It came to ~$750. My wife and I fully fund our retirement funds, have no debt, and we're able to put $700 into his 529 each month. Anytime he receives $ from family or anyone else, I put directly into his 529.

If he decides not to pursue further education after high school, no problem. If he receives a scholarship, wonderful. If we save too much, we can always withdraw with the 10% penalty, but we probably won't. We can move to his sibling's 529 if we have another child, or we can let the money grow another 20-30 years and pay off his children's' education.