How Much Do You Need for College?

After you feed them, clothe them and put a roof over their head for 18 years, then they want $250,000 to go drink beer, hook up and study a little.  Jeech! 

If you have a kid in 2019, you'll need about $250,000 to send them to UC Berkeley in 18 years.  

You can either:

1. Save a little over time or

2. Save a lot and save early

If you invest $580 a month, you'll have $250,000 saved in 18 years with a 7% return.  That's $125,000 out-of-pocket and $125,000 in tax-free investment gains (if you used a 529 Plan).

Or you can save $71,000 right now which will grow to $250,000 in 18 years at 7%.  That's $179,000 in tax-free investment gains.

Junior's keg stands shouldn't cost you any more than it has to. 

So save more and save early.