Have any of you set up an educational fund for your kid(s)?

[MikeWaters]

Originally Posted by TripletDaddy

Yep.

In 2005, Harvard was 41k for one year.

In 2020, using Tom's inflation calculator, that will be about 60k.

Of course, college tuition tends to increase faster than inflation.

60k x 4 years = 240k
3 kids 240 x 3 = 720k

That's a bundle to save. I ain't doing it.

[creekster]

We did and we are glad we did.

[MikeWaters]

Originally Posted by creekster

We did and we are glad we did.

I think one of the big minuses of this approach is that it can lead to entitlement and ultimately disappointment.

My personal opinion, you don't want to have to share responsibilities with a medical resident for whom residency is his/her first job in life.

No struggle.

[TripletDaddy]

Originally Posted by MikeWaters

I think one of the big minuses of this approach is that it can lead to entitlement and ultimately disappointment.

My personal opinion, you don't want to have to share responsibilities with a medical resident for whom residency is his/her first job in life.

No struggle.

as you learn to love your children as much as we love ours, your opinion will change.

[MikeWaters]

Originally Posted by TripletDaddy

as you learn to love your children as much as we love ours, your opinion will change.

is this because of your upbringing, not only going to BYU, but having to go BYU law school as well (ugh)?

This could possibly be the cheapest route to being a lawyer in the country. But maybe you were better off for it.

[MikeWaters]

How about this approach?

Meet half their educational loan payment 10 years from the time of the last degree? Help on the backend?

Were you guys planning to pay for any professional degrees as well?

[creekster]

Originally Posted by MikeWaters

How about this approach?

Meet half their educational loan payment 10 years from the time of the last degree? Help on the backend?

Were you guys planning to pay for any professional degrees as well?

We saved as much as we could, divindg equally between offspring. They get that and they get nada more. Unless one of them chooses cheaply for undergrad work, it will almost certianly not include graduate school.

[TripletDaddy]

Originally Posted by MikeWaters

is this because of your upbringing, not only going to BYU, but having to go BYU law school as well (ugh)?

This could possibly be the cheapest route to being a lawyer in the country. But maybe you were better off for it.

you actually would love my story. I footed my own bills.

I wasnt planning on going to BYU law. but I started dating this lovely gal at the end of my undergrad and had to make a choice...I chose love.

It worked out fine for me.

You didnt really go to an amazing med school, so what are you yapping about?

[MikeWaters]

Originally Posted by TripletDaddy

you actually would love my story. I footed my own bills.

I wasnt planning on going to BYU law. but I started dating this lovely gal at the end of my undergrad and had to make a choice...I chose love.

It worked out fine for me.

You didnt really go to an amazing med school, so what are you yapping about?

No not amazing. But top 15 in the country. I don't think BYU law can claim that.

[TripletDaddy]

Originally Posted by MikeWaters

No not amazing. But top 15 in the country. I don't think BYU law can claim that.

So, in essence, I left school with less debt and a higher starting salary than you.

Maybe you should have taken a few finance classes.