Every month I deposit a large chunk of money into my kids' 529, but lately I've been rethinking my decision. I do intend to offer them some financial assistance with their college but I wonder if they would be more motivated if they had to work a little for it? In other words, instead of me paying 100% of the bill, why shouldn't I pay only say for instance, 70%? Why shouldn't they work for scholarships and try to get a part-time job or something to help themselves along? I don't want them to graduate with huge student loans but I think they should contribute something even if I am able to pay for all of it. What are your thoughts about this?
The same goes for life insurance. I only have about $100,000 in life insurance which doubles if I die accidentally. I think that's more than enough for my husband to bury me and sustain the household for a few years after I'm gone especially since I will be also leaving him my savings and investments. I'm not trying to make him a rich man so he will be more appealing to his next wife.
I'm curious as to what others think about this.