Saving for college..

[HiImSeth]

I know I may be going in a completely different direction here, but do you and your wife have all of your credit card debt, car loan, other loans (other than a mortgage) paid off already? Do you already save towards retirement - if so, how much? That can help me answer your question more since you probably should be agressively saving for your child's potential to go to college when you have a lot of high interest debt. I'm not saying you have this debt, I just wanted to point this out.

Have you looked into 529's? Just curious.

We have no debt other than the mortgage. We are currently saving 17% towards retirement. We've looked at 529's and if I can find no other option that'll likely be the route we take. But as mentioned in the original post we want to have the option to use the money for other things if our child decides college isn't for him/her. Thanks.

I don't know why anyone hasn't brought up 529's - they are the accepted vehicle for college investing.

529's sound great, but we're just looking at other options in case our child doesn't want to go to college. Thanks!