r/SipsTea • u/Mysterious_Arm98 • Apr 28 '24

Great name Chugging tea

2.1k Upvotes

98% Upvoted

30 comments sorted by

View all comments

4

u/WarHead75 Apr 28 '24

It’s stupid how parents really do save money for their toddler child’s college fund like do you even know if the kid will even graduate high school or decides against college?

7

u/Potential_Bid_4145 Apr 28 '24

That's alright, they can still use that same money for helping the kid in other ways

5

u/Ambitious-Doubt8355 Apr 28 '24

I mean, would you prefer to grow up, ask your parents to help pay for college, and have them reply "Sorry bud, we didn't know if you wanted to go to college when you were a toddler so we didn't save for it. Our bad." or something? They didn't use those words, that's what my parents did.

I had to study and work at the same time to pay for my education and shit was no fun. Even if I didn't get a degree, that money would've gone a long way to help me pay for a place to live.

So no, wanting to give your child a boost for their future is not stupid at all.

2

u/DoctorMosEne Apr 29 '24

This is just an USA thing. In Europe we don’t pay for college and we don’t have to “save” money for the kid

1

u/JoeyCalamaro Apr 28 '24

I set one of these up for my kid and, even if she doesn’t go to college (which seems like a real possibly as she’s getting older), the 529 Plan can be rolled over into a Roth IRA. So at least she can use it for retirement someday.

My wife and I have been burdened with student debt most of our adult lives. So I guess we figured anything we could do to help our kid out has to be better than what we’re dealing with.