Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
As my last kid/adult is finishing up college - 3 more semesters to go a combination of things have created excess funds. Online only due to Covid cost reductions, stock market gains, second kid doing a little less college, I have some excess funds to deal with. So next week before the year ends I'm selling enough stocks to pay for the 3 semesters and a new computer.

In doing some research you can pay for computers since everything is online, it's now a required device along with headset, video etc. So for the Holidays he got a nice new computer as his 9 year old one is still running but a little on the slow side :) Building your own computer with great parts and little upgrade along they way has kept it going and going.

Now what to do with the rest of the education funds. I can leave it sit and grow, perhaps I'll take some online courses or another close family member could benefit. Later on at some point sell and cash it out taking the 10% penalty and then paying income taxes. Maybe a grand kid will pop up later in life but the funds have to be transferred to that child before my kids turn 30. I don't see that happening but you never know.

I did not think about excess, perhaps a few dollars but not a decent excess to deal with. It's actually wonderful problem, I mean ugh challenge to deal with. I'm wondering if anyone else has dealt with this and what they did?
Print the post  

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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.