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蜗牛还是这儿板斧

蜗牛还是这儿板斧# single - 50% completed

f*t2008-08-04 07:08

1 楼

we all talk about retirement plans.
Any advice of the kids edu costs? the cost for college, and even the cost
for private middle schools if I become rich later?
I am a newbie. so please advice.
thanks.

R*O2008-08-04 07:08

2 楼

打个招呼

K*D2008-08-04 07:08

3 楼

the priorities:
1. pay off all debt except equity-backed (like house).
2. 401k matching.
3. emergency living fund.
4. Roth IRA.
5. 401k max out.
6. kids college fund.
My personal view is not to fund kids college unless after I max out 401k.

【在 f****t 的大作中提到】

: we all talk about retirement plans.
: Any advice of the kids edu costs? the cost for college, and even the cost
: for private middle schools if I become rich later?
: I am a newbie. so please advice.
: thanks.

u*g2008-08-04 07:08

4 楼

过路费？

【在 R*O 的大作中提到】

: 打个招呼

f*t2008-08-04 07:08

5 楼

Could you kindly share your reason? I think the money, even for the daycare,
would be a lot. Then even for public school, you need to go to some summer
camps??

【在 K****D 的大作中提到】

: the priorities:
: 1. pay off all debt except equity-backed (like house).
: 2. 401k matching.
: 3. emergency living fund.
: 4. Roth IRA.
: 5. 401k max out.
: 6. kids college fund.
: My personal view is not to fund kids college unless after I max out 401k.

s*u2008-08-04 07:08

6 楼

嘿嘿

【在 R*O 的大作中提到】

: 打个招呼

K*D2008-08-04 07:08

7 楼

The major reason is student loan usually has lower rates than your
mortgage, which makes me feel not obliged to fund for my children.

daycare,
summer

【在 f****t 的大作中提到】

:
: Could you kindly share your reason? I think the money, even for the daycare,
: would be a lot. Then even for public school, you need to go to some summer
: camps??

y*u2008-08-04 07:08

8 楼

你在这啊，可怜我在鹊桥灌你的坑，一会就没了。。。

【在 s********u 的大作中提到】

: 嘿嘿

a*e2008-08-04 07:08

9 楼

But you didn't buy a house, where did you get your mortgage?

【在 K****D 的大作中提到】

: The major reason is student loan usually has lower rates than your
: mortgage, which makes me feel not obliged to fund for my children.
:
: daycare,
: summer

s*u2008-08-04 07:08

10 楼

偶尔来巡视一下

【在 y*****u 的大作中提到】

: 你在这啊，可怜我在鹊桥灌你的坑，一会就没了。。。

K*D2008-08-04 07:08

11 楼

I am not talking about now ah. I haven't even maxed out 401k yet.

【在 a**e 的大作中提到】

: But you didn't buy a house, where did you get your mortgage?

f*t2008-08-04 07:08

12 楼

but there are a lot of money even before the college? how to pay?
can you also say say why you put 4 over 5?

【在 K****D 的大作中提到】

: The major reason is student loan usually has lower rates than your
: mortgage, which makes me feel not obliged to fund for my children.
:
: daycare,
: summer

K*D2008-08-04 07:08

13 楼

fees before college are limited bah, you can fund some ESA to cover that
and probably won't affect your budgeting. It's another story if you want
your kids to be in private high school.
You've already asked me before why I like Roth over 401k ah.
The reason is that I anticipate to have a higher tax bracket when I
retire than now. If you ask me why, then it's just personal opinion.
many people disagree with that.

【在 f****t 的大作中提到】

: but there are a lot of money even before the college? how to pay?
: can you also say say why you put 4 over 5?

f*t2008-08-04 07:08

14 楼

Any good tax saving way for the private high school fee? thanks.
can esa and 529 both cover the cost before college?
thanks. for me, I am not sure :(. just to double make sure.

【在 K****D 的大作中提到】

: fees before college are limited bah, you can fund some ESA to cover that
: and probably won't affect your budgeting. It's another story if you want
: your kids to be in private high school.
: You've already asked me before why I like Roth over 401k ah.
: The reason is that I anticipate to have a higher tax bracket when I
: retire than now. If you ask me why, then it's just personal opinion.
: many people disagree with that.

K*D2008-08-04 07:08

15 楼

I only know ESA, which has a $2000/yr limit.
So if the private high school cost $1 million, you'll still have to
pay the most out of your pocket, hehe.

【在 f****t 的大作中提到】

:
: Any good tax saving way for the private high school fee? thanks.
: can esa and 529 both cover the cost before college?
: thanks. for me, I am not sure :(. just to double make sure.

f*t2008-08-04 07:08

16 楼

2k/year is better than nothing ;) thanks.

【在 K****D 的大作中提到】

: I only know ESA, which has a $2000/yr limit.
: So if the private high school cost $1 million, you'll still have to
: pay the most out of your pocket, hehe.

x*i2008-08-04 07:08

17 楼

ESA 的钱好像不能deductible, 这样也就是帐户里面的收益可以免税，现在的行情哪里
能搞到什么收益，所以这个大概也没有什么大意思

f*t2008-08-04 07:08

18 楼

some state, free from state tax??

【在 x*****i 的大作中提到】

: ESA 的钱好像不能deductible, 这样也就是帐户里面的收益可以免税，现在的行情哪里
: 能搞到什么收益，所以这个大概也没有什么大意思

P*a2008-08-04 07:08

19 楼

529 is the way to go if you want put significant amount of $$ for college,
but it may impact your kids' eligibility for financial aids.
ESA can be used for expenses before college, so 2k/yr is better than nothing.
I'd definitely max out all other retirement accounts before I contribute to
a 529. In some states, 529 contribution is exempt from state taxes, which
motivates college saving even when kids' are very young. You may want to
consider that option early if you're in a high tax bracket.

f*t2008-08-04 07:08

20 楼

nothing.
to
share the reason, please.

【在 P**a 的大作中提到】

: 529 is the way to go if you want put significant amount of $$ for college,
: but it may impact your kids' eligibility for financial aids.
: ESA can be used for expenses before college, so 2k/yr is better than nothing.
: I'd definitely max out all other retirement accounts before I contribute to
: a 529. In some states, 529 contribution is exempt from state taxes, which
: motivates college saving even when kids' are very young. You may want to
: consider that option early if you're in a high tax bracket.

s*d2008-08-04 07:08

21 楼

529, ESA, taxable accounts now are all same regarding financial aids.

【在 P**a 的大作中提到】

P*a2008-08-04 07:08

22 楼

Because my retirement is more important.
I won't spend tons of money on my kids' college expenses before I have
enough retirement funds. They
can either go to a public school or apply for financial aid/student loan and
I will be the loan guarantor.

【在 f****t 的大作中提到】

:
: nothing.
: to
: share the reason, please.

P*a2008-08-04 07:08

23 楼

They are all considered as part of the parents' ability to afford the higher
education expenses. That's why I
said 529 may impact your kids' eligibility for financial aid.

【在 s**********d 的大作中提到】

:
: 529, ESA, taxable accounts now are all same regarding financial aids.

l*y2008-08-04 07:08

24 楼

pay off autoloan too?

【在 K****D 的大作中提到】

l*y2008-08-04 07:08

25 楼

401k is a joke, hehe

【在 K****D 的大作中提到】

: I am not talking about now ah. I haven't even maxed out 401k yet.

K*D2008-08-04 07:08

26 楼

Yup, since car's equity drops too fast, i.e., usually you can't sell your
car to pay off your debt.

【在 l****y 的大作中提到】

: pay off autoloan too?

f*t2008-08-04 07:08

27 楼

will the 401k have the impact on kids' eligibility?

higher

【在 P**a 的大作中提到】

:
: They are all considered as part of the parents' ability to afford the higher
: education expenses. That's why I
: said 529 may impact your kids' eligibility for financial aid.

b*e2008-08-04 07:08

28 楼

A lot of people say their own retirement fund is more important than kids
college fund. To me that's way ridiculous. The truth is, normally, kids
college time will start at about 50 to 55 years of age. And our retirement
will start at about 65 years of age, which is normally 10 years later.
When I am old, I can still go to Walmart as a personal greeter to earn my
living and my living cost will be pretty flexible. However, kids college
tuitions are solid, you have to be able to write a check (the

【在 f****t 的大作中提到】

K*D2008-08-04 07:08

29 楼

You assumed that it's your responsibility to pay for the education
expenses from your children.
However, my personal view is that there is nothing wrong with getting
a student loan and go to Harvard. In China, many Chinese poor kids now
can go to universities because they are able to get loans. I think it's
a good thing.
Of course, a career starting with a bunch of debt is a complete
different style from what our generation experienced. But the risk
of not being able to get out of debt is more d

【在 b****e 的大作中提到】

: A lot of people say their own retirement fund is more important than kids
: college fund. To me that's way ridiculous. The truth is, normally, kids
: college time will start at about 50 to 55 years of age. And our retirement
: will start at about 65 years of age, which is normally 10 years later.
: When I am old, I can still go to Walmart as a personal greeter to earn my
: living and my living cost will be pretty flexible. However, kids college
: tuitions are solid, you have to be able to write a check (the

b*e2008-08-04 07:08

30 楼

Right, I wouldn't be responsible for kids' car, kids' house and everything
else. But, I would be responsible for kids' education.
Well, right, we don't have to leave our kids a big amount of money because
it's useless, but I don't want to leave my kids a big amount of debt, either
, which is worse for them. To my understanding, it's always parents
RESPONSIBILITY to educate their kids. And today, a high school degree is no
more than just no education at all. I don't see how my RESPONSIBILITY is
f

【在 K****D 的大作中提到】

: You assumed that it's your responsibility to pay for the education
: expenses from your children.
: However, my personal view is that there is nothing wrong with getting
: a student loan and go to Harvard. In China, many Chinese poor kids now
: can go to universities because they are able to get loans. I think it's
: a good thing.
: Of course, a career starting with a bunch of debt is a complete
: different style from what our generation experienced. But the risk
: of not being able to get out of debt is more d

K*D2008-08-04 07:08

31 楼

I agree with you completely on the importance of education. I prepare to
raise my kids' education fund too.
The difference is, even if I can pay the tuition off, I would still
encourage my kids to get a student loan. I only use my own cash as an
incentive in case as you said, they choose not to go to college due to
the fear of debt. In that case I will come up with a stimulus plan strong
enough that they will have to reconsider their decisions.
Of course, I won't rely on my stimulus plan. The ma

【在 b****e 的大作中提到】

: Right, I wouldn't be responsible for kids' car, kids' house and everything
: else. But, I would be responsible for kids' education.
: Well, right, we don't have to leave our kids a big amount of money because
: it's useless, but I don't want to leave my kids a big amount of debt, either
: , which is worse for them. To my understanding, it's always parents
: RESPONSIBILITY to educate their kids. And today, a high school degree is no
: more than just no education at all. I don't see how my RESPONSIBILITY is
: f

f*t2008-08-04 07:08

32 楼

can you leave a non-roth IRA to kids? I think based on the RMD, there would
be almost nothing.
(my assumption: i think it is hard to have most part of IRA to be roth).
(let me worry too much: for roth IRA to kids, they have to withdraw a pre-fixed amount each year, and the amount cannot be changed each year?)

【在 K****D 的大作中提到】

: I agree with you completely on the importance of education. I prepare to
: raise my kids' education fund too.
: The difference is, even if I can pay the tuition off, I would still
: encourage my kids to get a student loan. I only use my own cash as an
: incentive in case as you said, they choose not to go to college due to
: the fear of debt. In that case I will come up with a stimulus plan strong
: enough that they will have to reconsider their decisions.
: Of course, I won't rely on my stimulus plan. The ma

K*D2008-08-04 07:08

33 楼

Why I can't cash my IRA, and then give my children cash as gift?
It has nothing to do with Roth, traditional or 401k. I mentioned IRA just
as an example. The money might as well be in a normal investment account,
or tucked under my mattress. I will make sure my children know where the
money is before I die.

would
fixed amount each year, and the amount cannot be changed each year?)

【在 f****t 的大作中提到】

: can you leave a non-roth IRA to kids? I think based on the RMD, there would
: be almost nothing.
: (my assumption: i think it is hard to have most part of IRA to be roth).
: (let me worry too much: for roth IRA to kids, they have to withdraw a pre-fixed amount each year, and the amount cannot be changed each year?)

f*t2008-08-04 07:08

34 楼

hehe, they cannot tax deferred the growth :)

【在 K****D 的大作中提到】

: Why I can't cash my IRA, and then give my children cash as gift?
: It has nothing to do with Roth, traditional or 401k. I mentioned IRA just
: as an example. The money might as well be in a normal investment account,
: or tucked under my mattress. I will make sure my children know where the
: money is before I die.
:
: would
: fixed amount each year, and the amount cannot be changed each year?)

K*D2008-08-04 07:08

35 楼

ft, when I am 80, I am too old to worry about those, hehe.
Besides, the children won't reject the free money just for some tax...

【在 f****t 的大作中提到】

: hehe, they cannot tax deferred the growth :)

f*t2008-08-04 07:08

36 楼

if you have 10mil, then cutting 5mil off to Uncle Sam would make you sad ...

【在 K****D 的大作中提到】

: ft, when I am 80, I am too old to worry about those, hehe.
: Besides, the children won't reject the free money just for some tax...

K*D2008-08-04 07:08

37 楼

That's the beauty to live like an ordinary man, hehe.
Once you get rich, everything becomes inconvenient...

..

【在 f****t 的大作中提到】

: if you have 10mil, then cutting 5mil off to Uncle Sam would make you sad ...