Number Crunching: A College Fund
My daughter is three. We are going to open her a 529 savings college plan with a $1,000 initial deposit into it. We plan on putting $500.00 per year in to the plan for the next fifteen years. That is only $42.00 per month. (ok, it is really $41.66 per month). We can handle that. We’ll plan and budget for $500.00 per year, probably for a summer deposit, so it doesn’t come over the expensive December month. Since this is a 529 plan, the money will not be taxed. So, how much will she have for college? Can you figure … Continue reading