Quote:
Originally Posted by John 070
It's not pretty--the unreal rate of appreciation is the killer.
Back in 2013, I calculated that without aid, that $1,600/mo. needs to be saved from the hospital ride home, through age 22. Now you add that to daycare and it's $3,000/mo. from the hospital ride home through age 5, then down to $1,600/mo. plus after care.
Honestly, the 1%'ers can do the above, but how much you wanna bet they'd rather spend it on the latest new car they leased, etc.?
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One good thing is my parents set up an account for my kids and it has quite a few duckets for their young age.
Did you know if your child gets accepted to harvard (maybe all the ivy leagues?) that they do a means test and you only pay what they think is fair (what you can afford...thats what 16 billion endowment can do), my co-workers kid was a track star and super smart he only pays 11k a year for harvard with room and board. Moral of the story...kids need to go to harvard....I should start to play the lottery