Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (16) | Ignore Thread Prev | Next
Author: CheersSRX One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 8174  
Subject: Re: Anyone succeeded in paying for college? Date: 7/15/2014 6:13 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Yes.
At first, we opened up UTGMA accounts for both girls, but soon after transferred each to a Fidelity 529. I believe the 529s were linked to New Hampshire, but I've never had those details very well, and it never made a difference.
When the (two) girls were very young we contributed $300/month/girl, then raised it to $600/month/girl when we could afford to do so.
Our goal was to have $100K/girl when they were ready. Both had about $81K, so you could say we came up a little short. Fortunately, oldest will likely need just a little less; youngest, who enters here second year this fall will need maybe $20K more. So we came up a little short, but within range.
Generally, we invested with Fidelity mutual funds... Capital Appreciation, Growth and Income, and the like.
When fall 2008 hit we panicked and sold off everything to cash. Of course, that turned out to be a mistake, but were within range and couldn't afford to mess up 15+ years of savings.

Good luck. It can definitely be done, with a long time horizon and prudent investing.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (16) | Ignore Thread Prev | Next

Announcements

Paying For School Guide
Trying to Tackle Tuition? The Motley Fool's Guide to Paying for School will help you fight those rising education costs.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement