My kids are still young and I have college savings in both Coverdells and taxable accounts, but I need to make better plans for college savings for each of them. Specifically, I need to come to grips with:
1. How much exactly do I need/want saved by the time they are 18?
2. Should I take the plunge into the messy world of 529s?
3. What else do I need to consider as part of my overall college funding plan?
Hi,
There are calulators availble to help you figure out how much you need to save. Here's a link to one:
http://apps.collegeboard.com/fincalc/college_cost.jsp
There are also services to help you generate savings for college for shopping. My company offers one. To check it out, goto http://www.littlegrad.com.
Posted by: Anh Vazquez | January 25, 2006 at 12:11 AM
LOVE Little Grad!!! I joined after I saw their article in San Francisco Chronical and saved a couple hundred dollars while Christmas shopping/booking holiday travel. It was easy and they don't shower me with emails... hooray! (I already had my state 529 setup, but is nice to have extra money going in each month...)
Highly recommend no matter what savings plan you have...
Posted by: Claire | January 27, 2006 at 01:14 PM
I checked out Little Grad after seeing your posts. So far I am very happy with how much I am saving. I shop a lot online so and saving everytime I shop is a huge incentive for me.
Posted by: Steve C | February 22, 2006 at 07:20 PM