529 equation?
How do you calculate what total contributions you should product to a 529 plan. I am assuming a kid would start college 17 years from now and travel to a state university for four years.
Answers: College tuition has gone up more or less 6.5% per year for the last 5 years. If you enjoy a specific state university in mind you can "buy" prepaid tuition. You take home payments until you reach required amount. This prevents inflation from slaughter your investment. This is the best option if you are SURE which academy you think the child will attend. Some states even allow prepaid tuition for any state run college or university. Check near your state's higher training authority.
Try using the calculators at the site below to get an belief. It depends on things like type of college, type of investment you will put the money within and inflation.
http://www.collegetuitionbenefit.net/pla...
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Answers: College tuition has gone up more or less 6.5% per year for the last 5 years. If you enjoy a specific state university in mind you can "buy" prepaid tuition. You take home payments until you reach required amount. This prevents inflation from slaughter your investment. This is the best option if you are SURE which academy you think the child will attend. Some states even allow prepaid tuition for any state run college or university. Check near your state's higher training authority.
Try using the calculators at the site below to get an belief. It depends on things like type of college, type of investment you will put the money within and inflation.
http://www.collegetuitionbenefit.net/pla...