In-state inheritance

You are going to have to invest way more than that.

Even without private school (primary & secondary), you are looking at $300,000 just for undergraduate and postgraduate. Possibly more if education inflation goes up further (my assumption is that it will given demand and supply considerations).

Factor in private school, and you are looking at $500,000 for one kid.

I’d start saving into an education fund pronto. Got to take advantage of that compounding.

Laughs in Canadian. Two kids with multiple degrees, and the only debt (or cost really) was when one of them did a masters in the states - they took on a bit of debt. Otherwise, both coming out with no debt.

+1 on the start saving now. We used a tax beneficial vehicle called an RESP. $2500/year with a $500 gov’t grant every year. It caps out just before they go to post-secondary so when they head toward school (if they stay at home) it’s actually a decrease in costs because I stopped making deposits. And, we had enough money in them to get them through their undergrad.

Otherwise, it was just food/car/phone/spending money, which we were already doing anyway, so no extra cost.

Master/Phd’s, they actually make a bit. Not much, but more than enough for tuition and living costs (assuming they’re living at home). Now that we’ve got my son’s finances in order, I expect he’ll actually be saving $10-$20k for the duration of his program. Oh, and now he’s 6 years out of high school he’s considered independent (even though he lives at home) and as a result gets gov’t loans and grants.

For comparison, I pay $1100 per term per course at UWaterloo. Full course load for an undergrad, it’s probably about $4-$5k’ish per term.

Bonus points, Laurier (a local university) gives free tuition at age 60 and Uwaterloo gives free tuition at age 65. So guess what I’m doing when I retire. Maybe I’ll be a geologist. Or an artist. Or an engineer.

Playing the role of Leonard at a local college.

1 Like

Fellow Steve. Fellow Lucy fellow dtnf. Mr. Space lobster.
I have a master’s degree!


Or this

1 Like

Is it? I didn’t know that CS has kids. If he does, I don’t think it’s common knowledge. I took his threads about kids as being potential future kids, not current ones.

Sounds like we have a new potacular destination


Okay so I’ve been checking out the place every once in a while to make sure there haven’t been any squatters or anything like that.

Any idea on what I am supposed to do with this thing?

Sell it asap. I can’t believe you’re trying to hang on for potential future in state tuition rates

Sell it and start a 529 for the kiddos. It’ll give them more flexibility to choose which school to attend

1 Like

What @BigBlackBen said.

In my area real estate is sky high right now. Take advantage and unload the thing. The property taxes & insurance from now until graduation are going to severely eat into your savings. Add in the risk that the value will go down or your kids won’t want to go to school in that state and the opportunity cost of not investing that money elsewhere and there’s just very little chance of you coming out ahead.

Add in the value of your time and the expense of traveling there to keep an eye on the place and… just not worth it.

1 Like

Rent it to a fraternity of that local college. Nothing could possib-lie go wrong with that.
Or, rent it to more serious students. Take rent money and buy another property. And so on, and so on.
Be sure to overvalue the property when you apply for loans. It’s the Great America Make Again way!

Or just sell it.

1 Like

If it’s worth more than you can put into a 529 ($90,000 per kid which is the annual gift limit x5 as you’re allowed to put in 5 years’ worth all at once) or if you don’t want it all going into a 529 (which has restrictions on how the money can be spent) then put some of the proceeds into UTMA accounts for each kid.

For upper middle class folks like actuaries, I like a blend of 529 & UTMA for college money.


1 Like