How much money will I need to save for my child to go to college?
I’ll leave it to others to give you estimates of how much it will cost. A quick google search can help as well.I do, however, believe it’s a mistake to specifically set aside money for your children’s college. A much better approach is to be a max saver for your own retirement. As a consequence, you won’t be a burden on your children later in life, and you may well be in a position to help them financially once they’re ready for college.You don’t have an obligation to pay for your kids college, but you do have an obligation not to be a burden on them.To be a max saver for your own retirement, in a perfect world you will:Max out 401(k) (typically 15%) in a stock index fund.Max out you and your wife’s Roth IRA ($6K/yr each), mainly in a stock index fund.Then save some more in a brokerage fund, mainly in a stock index fund.
Parents: Would you be mad if your child saved their lunch money behind your back?
About 2 weeks ago, I started saving my lunch money and I'm been doing it for 10 days and so far I've made $70. Except I spent $10 yesterday, unfortunately. I'm planning on saving the money everyday and by the time I graduate, I'll have at least 3,000-4,000$. And I've come up with other ways of getting money from my mom too like I told her my gym uniform costs $10 more than it actually did so that I could get an extra $10 and I'm getting $20 on monday because I told her that I needed more gym stuff but I really don't, and I'm going to keep the money. And I tell her stuff like I need money to get poster boards and school supplies for different projects and stuff but I really don't and I just keep the money. And tomorrow, my mom's giving me money and I'm supposed to go out and get a new video game from the mall but I'm not really going to get the video game. I'm just going to keep the money and go to the mall and come back and pretend that I got the game. But I'm scared that my mom will find out. I don't know if she'd be okay with me saving my lunch money. If you found out that your child was doing this, would you be mad? Would you take the money away or let them keep it?
Should I start saving money for college?
hello, I am only 13 and I already have plans for what I want to do when I'm older, I plan on going to college at The University of Chicago while studying law. Don't tell me that I shouldn't set my hopes that high as right now I am first in my class of about 300 students and on the state exams I score better than 99% of the country in everything. Also, I am capable of going their at half price as my father works there and my uncle is the Controlling Officer of Expenses their, the chief finance officer, so please tell me how I should save for college as my goals for this summer is $1000 (I have a job set up at the Local Little League where I will work) Thank you in advance.
Which Zodiac Sign is most likely to spend their child's college funds?
My Leo ex DID spend my daughters college fund. It was one of the major reasons we got divorced.
Why won't parents let their children spend their OWN money?
When your 18 get a new bank account save your money there. I would save that money so you could get a car when you need to go to work. You still live with your family so u dont have to pay rent. Atleast you can do is give them money for some things like food we all eat
How much money are parents willing to invest in their children's college education?
Most of the Indian Parents are in a dilemma due to limited means and rising inflation. Whether to invest in children's higher education or to fund their children's marriage or do both. Both these financial goals are usually within less than a decade's span of each other. Unless the parents have been planning for both since the child's birth, it becomes a matter of choosing one over the other.Thankfully, higher eduction can be funded by Education Loans. Children may choose to ease their parent's burden by opting for this and repaying the loan once the education is complete and a job is secured. Education Loans in India are tax efficient as the interest is tax deductible upto 7 years.Funding a marriage through a loan however provides no such relaxation to one.
How much money in America does one need to save monthly for college from a child's birth to pay for an average private college?
It's hard to say what “average" is to you, but I would estimate no less than $50,000/year x 4 years…then, multiply that by the inflation rate — 5 percent per year, at least. You should come up with a very large number.If there were a cardinal sin when it comes to sending a child off to college, I would ask myself, “what is the return on this investment?” I don't know what your personal reasoning is, but I would find it very difficult to justify sending my child to a private college. I could get just as good a degree from a good, in-state public university — for the most part.
How much money do parents spend to raise a typical child from the infancy until he/she finishes university or college?
According to this article that was released last year -- This Is How Much It Costs To Raise A Child In The U.S. -- the average to raise a child from infancy to adulthood is approximately $250,000.