I originally published this post last summer (if you can believe it, it was actually my FIRST EVER post!), but I feel like it’s really important to bring it back with everything I’m hearing in the news lately.
If you haven’t been keeping up, here’s what you’re missing: First, there’s the constant reminder that the projected cost of college for a child born in 2013 ranges from $150k to a whopping $400k. Then, there’s the pending reality that in one year 1% of the world’s population will own 50% of the world’s wealth. So if you’re not in that 1%, you’re actually more likely to get poorer than richer.
So why does this matter for college savings? Well, lots of reasons. And of course, I’ve written them all down for you. 🙂
So without further ado, here are the reasons why you need to start saving now for your kids to go to college. And more specifically, why you need to put that money in a 529 College Savings Plan.