I thought to myself, self, you’re having a child soon and you and Justin really want to pay for him to go to college so he doesn’t have to struggle, or not go, the way you and he did. You should start planning! So I real quick log into USAA and get them to help me with math. I set reasonable, attainable numbers and look at what it tells me. It takes into consideration the fact that he won’t be attending college for another 18 years or so.

Dear Justin and Jennet,

Thank you for completing our Education Savings Planner. You’re now on your way to reaching your education savings goals. We’ve created a cost summary for all student(s), as well as individual action plans.

Benjamin’s Savings Needs

Based on your responses, future education costs will be $277,306. You have already planned for 14% of the total cost.
You can fund your shortfall by investing $81,136 today, or by increasing your monthly contributions to $715.

That was for UT Austin.

Dear Justin and Jennet,

Thank you for completing our Education Savings Planner. You’re now on your way to reaching your education savings goals. We’ve created a cost summary for all student(s), as well as individual action plans.

Benjamin’s Savings Needs

Based on your responses, future education costs will be $151,225. You have already planned for 26% of the total cost.
You can fund your shortfall by investing $38,204 today, or by increasing your monthly contributions to $390.

That was for a 4 year public college.

All I can say is, I really hope he’s smart enough for scholarships, good enough for an athletic ride, or has no desire to attend college. Oy.

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