My DD is only 18 months. Finances are tight for us right now, but we will put a little aside here and there. We just cashed out a small whole life policy that DH had (very small) and that will be the real start of her savings. Plus MIL said she had a small amount she wanted to add from a small inheritance she just received (not holding my breath about seeing it.)
We'll save money for her college, but not a lot necessarily separate from our other savings and investments. What we pay will depend on if/where she wants to go to school and how motivated she is. If she turns out to be a very bright, go-getter, I won't let a lack of funds be the thing that stops her from achieving her goals. OTOH if she's not really sure of her direction, perhaps it's better for her to let her tough it out and figure it out on her own. I can always go back to work for the sole purpose of financing her college.
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