Last night, we took the money we have in Margot's savings account and transferred it to a 529 plan for our little cherub who can't say a whole lot more than "Mama". It feels weird to be thinking about college when she's still wearing diapers, drinking out of a bottle, and crawling.
We signed the paperwork and mailed in the first of what will probably amount to countless deposits
to come. After reading through all of the options and various tables, it blew my mind to see that even if we save $100 per month for the next 18 years (at 7% interest rate), we may still not have enough to pay for Margot's college. Wow... I guess this is why they tell you to "start early".
to come. After reading through all of the options and various tables, it blew my mind to see that even if we save $100 per month for the next 18 years (at 7% interest rate), we may still not have enough to pay for Margot's college. Wow... I guess this is why they tell you to "start early".
It feels good to at least be doing what we can for her. My only hope is that when Margot is ready for college (in 2030?), we look back and are thankful that we started saving when we did.

