Fire Calc at 94.3%

[pb4uski]

100% on FIRECalc is nice but anything over 95% is sufficient IMO.

I didn't bother with 529 and am glad that I did... when DD went to college she got a merit scholarship that lowered her college costs to where I could fund it from cash flow and there was no need to tap the taxable account funds that I had earmarked for college and DS has so far decided not to go but I have funds earmarked if he changes his mind. If I had $$$$ in 529s I would have been royally screwed and scrambling around to figure out how to find a scheme to use those funds without penalty.

DD is grateful that she graduated college with no student loans which is quite different from many of her peers, including DSIL.

 

[SecondCor521]

As an aside, one can take penalty-free withdrawals from 529s in the amount of any scholarships. The earnings portion of the withdrawal counts as taxable income:

"In the case of a scholarship, non-qualified withdrawals up to the amount of the tax-free scholarship can be taken out penalty-free, but you'll have to pay income tax on the earnings. As Savingforcollege.com founder Joe Hurley likes to say, 'he scholarships have turned your tax-free 529 investment into a tax-deferred 529 investment'."

from The Truth About Scholarships and 529 Plans

(I am not sure if it is too late for USGrant1962 to make a scholarship-related withdrawal. Usually one is expected to make the withdrawals in the same year as the expense, so I assume the same thing applies to scholarships.)

 

[SecondCor521]

Maybe I have one more push in me, but what is difficult is I have all the material things I want for the most part so I would be working to pad myself further and maybe save for a third home down south so I can keep the expensive home that stresses me out? It kind of alll doesn’t make sense does it. That may be what is happening, my perspective is changing.

Heh, my evil plan is working.

 

[USGrant1962]

(I am not sure if it is too late for USGrant1962 to make a scholarship-related withdrawal. Usually one is expected to make the withdrawals in the same year as the expense, so I assume the same thing applies to scholarships.)

Yes, I've been doing that and will still have money left in the accounts. But that is like an IRA, the gains come out as ordinary income rather than cap gains so it is not ideal.