Reconciling Kids College, Dave Ramsey, & Millionaire Next Door

[moneybags]

She may need to borrow some in year 3 and definitely in year 4 as the 529 money will be gone by then. The exception may be if DW goes back to work between now and then.

Or… you (& DW) could focus on selling all your clutter and using that extra money for college . It could be a fun challenge.

[disneysteve]

Or… you (& DW) could focus on selling all your clutter and using that extra money for college . It could be a fun challenge.

LOL. Every little bit helps but we'd have to sell a lot more than the clutter to cover college costs.

[Petunia 100]

I think DR's advice isn't so much "you need to save for your kids' college", but more along the lines of "if you're going to help your kids with college, this is its proper order in your financial life". So if you don't have an emergency fund, don't have zero consumer debt, and aren't saving 15% annually towards your own retirement, you really aren't in a position to help with college.

[Eagle]

I think DR's advice isn't so much "you need to save for your kids' college", but more along the lines of "if you're going to help your kids with college, this is its proper order in your financial life". So if you don't have an emergency fund, don't have zero consumer debt, and aren't saving 15% annually towards your own retirement, you really aren't in a position to help with college.

I could probably agree with that.