Many parents put a ton of money at 529 college plan (that does not pay rent) and did not use it ($250k, or more). Their initial intention is to not lock their children in from an opportunity of their lifetime. Did I do enough for them, now that they graduated from high school? They asked this question as they watch their children with tears in their eyes marching from their high school graduation. And they say that it is their job as parents to help them with college.
Another story was said of an adult who graduated from Princeton from the money from his parents and now he is helping his parents financially who were not able to save for retirement just to send their children to college.
A student loan is a better option, while the parents money can grow in a real estate rental property with cash flow or a perm whole life insurance with tax free accumulation for retirement.
So do not over fund your 529 college plan, although it is tax free. Your goal is have control of your money, with 529 you give the money to an institution.
We have a college planning for you that you can control and that is not limited to the college your children wants to go to or decide not to go to.
Contact Connie Dello Buono for a better college plan/option 408-854-1883 firstname.lastname@example.org CA Life Lic 0G60621.