For anyone with small children and a high income or net worth I thought I would share this article:
Apparently you can pre-fund $70k ($14k annual limit * 5) for college in a 529 plan. There are other techniques like funding your own personal 529 plan and changing the beneficiary to your kids too. I'm studying all the ins and outs of this so if anyone is familiar with it please comment on the legitimacy.
Looks like a good option. Thanks for posting, Bryan.
Thanks, now all I have to do is find $70K sitting around w/ no better uses! :)
Fortunately, I started and funded a 529 for my son right after he was born. He just turned 7, and already has a good head start on college funding.
Yup....trading off $70k/year/child is a pretty big deal. That money could certainly be put to use more efficiently in real estate projects, but investing it passively in 529 plans is also probably safer and less work. Tradeoffs!
thanks so much for the article