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06.04.20, 12:09 PM General Topics
11 replies
For 1 DC, how much do you contribute to 529 each year? We are having our first (and likely only ) DC this year. I am considering a high contribution for the next 3 years so that we then don't have to contribute much. Maybe 20k for each of the next 3 years. What are other strategies? [ Reply | Watch | Flag ]
General Topics 06.04.20, 12:09 PM Flag
 

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We did 10K each year starting when DC was three or four, only one DC, we were clueless before that. DC is starting college this year, has over 240K in 529. [ Reply | More
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General Topics 06.04.20, 12:42 PM Flag
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Better to do $10k per year over 6 years since you can deduct up to $10k per year from your taxes (assuming married couple) [ Reply | More
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General Topics 06.04.20, 12:47 PM Flag
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I think NJ does not allow for tax deductions? [ Reply | More
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General Topics 06.04.20, 01:09 PM Flag
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$10,000 per year since he was born is now 17 and has almost $400,000. [ Reply | More
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General Topics 06.04.20, 12:52 PM Flag
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Wow, you did really well. What state? [ Reply | More
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General Topics 06.04.20, 01:09 PM Flag
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We did $10k per year for tax benefits in NY. [ Reply | More
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General Topics 06.04.20, 02:10 PM Flag
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+1 [ Reply | More
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General Topics 06.04.20, 06:00 PM Flag
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I have 3dcs, contribute 20k yearly spread over 3 kids. I think it's best to spread it out to dollar cost average into the stock market and also for tax benefits (at least in NYS). My oldest is 15, and has 220k in account (contributed 100k). [ Reply | More
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General Topics 06.04.20, 02:33 PM Flag
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^^ I also do things like contribute a little extra when market is done. In March, I added 20k/3 to each account. [ Reply | More
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General Topics 06.04.20, 02:33 PM Flag
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We did 10 K every year from when he was born. Wound up with 325,ooo for school. We were lucky we went to school during the boom in stock market [ Reply | More
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General Topics 06.04.20, 03:53 PM Flag
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10k per year is a good strategy. We do 15k pee year per kid but started later. [ Reply | More
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General Topics 06.04.20, 08:42 PM Flag
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