For 529 plans, when is enough, enough?
December 31, 2012 7:55 AM Subscribe
I've been saving big into a college fund since my child was born 8 years ago, on the order of $900 per month. I recently checked the 529 plan that was receiving the funds and it is currently at $90k. There is still a decade before the child would enter college, and by most estimates that could mean a doubling and a bit more if market averages do ok. My investment guy says a kid in the year 2022 might need $300k for tuition at a prestigious college and that I should continue. I think I'm pretty well set for now and it could be around $200k by then with no added input. Should I continue putting money away in this account or should I divert that into my own retirement (which is doing well too, but could always be better)? Or contribute less? When is enough enough for college?
posted by anonymous to Work & Money (22 answers total) 3 users marked this as a favorite