DirtyBird222 said:mazdeuce - Seth said:It's been about 20 years since I finished college. It seemed expensive then. I knew it was even more expensive now, but it wasn't until I got the itemized bill for Deucekid#1's first semester that I realized just how insane it was. A good state school, not one of the big 2 in Texas, but one of the next level, for four years, without books, will be over $100k. Based on what we have saved since the kid was born, we would have needed to double the $2k a year we've saved. Had be ween able to estimate things properly we would have needed to put away $4k a year over the last 16 years. $333 a month. And we've been on the good end of growth of money over the last 16 years which makes it a lot cheaper than doing the reverse and paying off loans in the other direction.
I'm just blown away.
Dude tell me about it. I'm at TAMU Law for my Masters and JD right now and paying out of pocket. The Master's program alone is going to cost me $35k for classes, books, and their ridiculous fees for paying cash vs. paying with a loan. I may just stop at the masters graduation because I do need to amp up my savings for my kids college funds.
Each one of my kids gets two "free" years from my GI Bill that I passed onto them. The problem is how do I pay for the other four years? When I got divorced the judge awarded my ex-wife the $30k savings account (10 years of diligently putting away $3k a year gone in a flash) I had for the kids education fund and she blew that on a new car. She also has no plan to save for them or replenish that so I'm left on my own to sort out my kids future.
I did some of my own forecasting taking what it costs me in my last year of my undergrad in 2009 compared to what it costs now, applied those same levels of inflation to when my kids will be in college, and assuming they'll go to a state university in Florida and figured I'll need at a minimum $40k for each kid to finish out their last two years, so $80k total. I'm assuming it'll be closer to $100k+ in reality.
I get such a kick out of people who plan their lives. Forgetting to include all the unexpected. In your case the divorce.
In mine , the recession of 2008 and just as that started to recover my late wife developed terminal cancer.
A old friend suddenly turned into an alcoholic. Then there are accidents and companies going bankrupt.
In my whole life I've only been to one retirement party. One! Since 1974. No I barely knew him. Oh, and my late wife who filed for her retirement and passed away 3 weeks later.
Not whining at all. Life happens. All the planning and sacrifice won't prevent events from happening.
Yes I know you can't be the grasshopper. But life as the ant isn't so great either.