We opened a Coverdell for my son 12 years ago, he is 15 now, and he has contributed about $10,000 through gifts from family. We have balanced portfolio outside of this, but I decided to get a bit risky and have invested this 100% in Amazon. It has grown to $160,000 as of today which should about cover him for years of college at a state school but not enough to cover private undergrad or graduate school. I am now considering a few options.
1. Leave it as it is, dance with the girl who brung you, etc.
2. Moving it all to an index fund
3. He attends a private high school that costs about $30,000 a year. We could start pulling out of the account now to cover those expenses
4. An option I'm not thinking of
My wife and I both work and our income would allow us to pay for college without too much of a financial strain, would be very similar to what we're paying for his HS right now.
What would you do in this situation?
1. Leave it as it is, dance with the girl who brung you, etc.
2. Moving it all to an index fund
3. He attends a private high school that costs about $30,000 a year. We could start pulling out of the account now to cover those expenses
4. An option I'm not thinking of
My wife and I both work and our income would allow us to pay for college without too much of a financial strain, would be very similar to what we're paying for his HS right now.
What would you do in this situation?
Statistics: Posted by jacksq — Fri Dec 13, 2024 8:47 am — Replies 3 — Views 107