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The Water Cooler
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How are your savings?
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<blockquote data-quote="Hirschkopf" data-source="post: 4114879" data-attributes="member: 50724"><p>You all probably knew I was joking about being worried about a pause in my sporting goods purchases, I’m just out of storage space. What does have the potential to make the family savings go down is paying for the kids’ college (assuming all three will attend at least 4 years). I turned 62 last week (retirement eligible age), and a kid will start college in 2024, 2025, and 2028, so I’ll probably be about 71 when the last one graduates. The wife and I have put a bit away in 529 accounts for each, every month from birth or right after, so most good-value colleges will likely be covered. Going to encourage them to have “skin in the game” by working, and/or a graduation “bonus” if they get academic scholarships and spare me from depleting their 529s. The eldest is less than a month away from turning 18 and has been saving most of his Chick-fil-A income. Am planning on helping him set up a Roth IRA before the end of the year, so he can (hopefully) see that grow and maybe he’ll maintain his good habits.</p></blockquote><p></p>
[QUOTE="Hirschkopf, post: 4114879, member: 50724"] You all probably knew I was joking about being worried about a pause in my sporting goods purchases, I’m just out of storage space. What does have the potential to make the family savings go down is paying for the kids’ college (assuming all three will attend at least 4 years). I turned 62 last week (retirement eligible age), and a kid will start college in 2024, 2025, and 2028, so I’ll probably be about 71 when the last one graduates. The wife and I have put a bit away in 529 accounts for each, every month from birth or right after, so most good-value colleges will likely be covered. Going to encourage them to have “skin in the game” by working, and/or a graduation “bonus” if they get academic scholarships and spare me from depleting their 529s. The eldest is less than a month away from turning 18 and has been saving most of his Chick-fil-A income. Am planning on helping him set up a Roth IRA before the end of the year, so he can (hopefully) see that grow and maybe he’ll maintain his good habits. [/QUOTE]
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