How much to add to my son's 529?
When my son was born, my dad placed $20k in a 529 plan for him and transferred ownership of the plan to me. At that time I ran the numbers through a calculator and it appeared that with a 10% return that would be enough to cover 100% of costs at a public university when my son turned 18.
4 years and a stock market crash later, the account is currently worth $19.5k. The calculator says that if I want to cover 100% of a public university, I should add either a lump sum of $18k now, or make annual contributions of $2,500.
I have the money available, and plan to cover 100% of college costs (as my parents did for me, and my grandparents did for my parents). My emergency fund and retirement is fully funded, so that is not an issue. Should I move it all over now, move part now and part later, or make annual contributions?
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