We have been saving religiously for our daughter's 529. We have now saved enough for her. I am now thinking about investing for her in a custodial brokerage account. I know that assets and income of the student matters a lot during the financial aid process. I am looking to see if it really matters for us in our situation.
1. Combined parent's income currently is 300k+. Hoping that it will only go up by the time daughter goes to college.
2. Combined current assets without retirement accounts $750k, with retirement account $1.7M
3. Will only have one kid in college at a time.
4. Family of 4.
My understanding from FAFSA and all the jokes about getting a extra topping on pizza and you become ineligible for aid, we will no qualify for any aid. So, I can go ahead and add assets to our kid's account.
Thoughts ?
1. Combined parent's income currently is 300k+. Hoping that it will only go up by the time daughter goes to college.
2. Combined current assets without retirement accounts $750k, with retirement account $1.7M
3. Will only have one kid in college at a time.
4. Family of 4.
My understanding from FAFSA and all the jokes about getting a extra topping on pizza and you become ineligible for aid, we will no qualify for any aid. So, I can go ahead and add assets to our kid's account.
Thoughts ?
Statistics: Posted by pingpong — Mon Sep 09, 2024 9:59 am — Replies 3 — Views 182