College. Is it worth it?
Jeff Bogle writes an interesting article arguing for parents to stop saving money for your children to go to college. Rather, use the money you would save to spend more time with you children. Here’s an excerpt below:
“Let me make the case that you shouldn’t save one penny for your kid’s college tuition. Don’t even open a 529 college savings account. Unless you’ve got $10,000 or some eye-popping figure to toss into that bucket every year (and if you do, you can probably also do what I’m about to say), don’t. even. bother. Instead, take all the money you think you want to stash away for college and do some or all of this every single year from now until your children are college age:
- Spend a week traveling with your child; in Europe, road trip across America, rail through Canada. Pick a different spot every year and go explore, learn then speak a new language, taste new foods, assimilate into the culture of the region.
- Buy an old car/boat/house and rehab it together.
- Enroll in cooking classes together.
- Subscribe to a local theater season of plays & musicals & acting classes.
- Try to see every Major League Baseball ballpark, or road trip to a cluster of minor league parks.
- Build them a book nook in a corner of your home.
- Get pampered at a spa together.
- Let your child take piano/guitar/trumpet/singing/dancing/gymnastics lessons. Maybe give that old instrument another try yourself, and learn together.
The key word in all of that: TOGETHER.”
You can read the entire article here.
What are your thoughts? Do you agree or disagree?