3405: [Part 2] The Greatest Risk To My Retirement Goal by Craig Stephens of Retire Before Dad on Securing Your Future

What It Covers

Craig Stephens models college savings for three children, projecting a need for four hundred fifty four thousand dollars by twenty thirty despite current monthly contributions.

Key Questions Answered

• •529 Plan Strategy: State tax benefits outweigh all other factors when selecting college savings plans. Keep investments in aggressive stock index funds until five to six years before enrollment begins.
• •College Cost Projection: Four years of in-state public university will cost two hundred twenty one thousand dollars per child by twenty thirty, assuming three to seven percent annual tuition inflation rates.
• •Funding Gap Solutions: Roth IRA contributions can be withdrawn penalty-free for education expenses. Transfer unused 529 funds between siblings or use investment income to cover shortfalls without triggering withdrawal penalties.