We have two kids. Oldest is 8 years away from college and the youngest is 11 years away.
Who knows where things will be after 8 years. Almost all of our savings goes to retirement accounts these days. The way things are, we could pay only their tuition fees (not living expenses) if they go to the UC California system; ~16k/year. Total ~130k. How/when to communicate with kids that parents can't pay full college expenses?
Here is our financial picture today.
Age: mid 40.Debt:
$500k left on mortgage
Portfolio allocation: 70/30.
Portfolio:
~$300k in non retirement (~115k unrealized capital gain, not much in carryover loss)
HSA: ~$40k
Roth: ~$150k
Takable retirement: ~$340k
Who knows where things will be after 8 years. Almost all of our savings goes to retirement accounts these days. The way things are, we could pay only their tuition fees (not living expenses) if they go to the UC California system; ~16k/year. Total ~130k. How/when to communicate with kids that parents can't pay full college expenses?
Here is our financial picture today.
Age: mid 40.Debt:
$500k left on mortgage
Portfolio allocation: 70/30.
Portfolio:
~$300k in non retirement (~115k unrealized capital gain, not much in carryover loss)
HSA: ~$40k
Roth: ~$150k
Takable retirement: ~$340k
Statistics: Posted by anonymoususer — Mon Jul 22, 2024 1:03 pm — Replies 0 — Views 8
