How Much Is Enough for Your Child's Education?
Education costs are rising, but a clear savings plan makes them manageable. Start with your target and work backward.
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Target education fund
Adjust for Inflation
Show values in today's purchasing power
Your Custom Fields
No custom fields yet. Add your own expenses, income, or one-time costs to personalize your plan.
Your Enough Plan
Enough Number: $500,000
Projected: $85,526
Growth Projection
Timeline
Monthly Savings Target
$2,923
per month to reach your goal
Current: $500
You need $2,423 more per month
That's about $97 per day
What If?
+$100/mo
Add $100 per month
27 mo. sooner
$102,631
+$200/mo
Add $200 per month
50 mo. sooner
$119,736
-2% return
Bear market scenario
63 mo. later
$77,182
What If You Saved Your Next Raise?
| Scenario | Final Monthly | Total Saved (10yr) |
|---|---|---|
| Save Nothing | $500/mo | $85,526 |
| Save 50% | $640/mo | $94,512 |
| Save ALL | $814/mo | $104,693 |
Saving ALL your raises instead of nothing nets you $19,167 more over 10 years.
Life Seasons
Add upcoming life events to see how they affect your monthly budget.
Click an event above to add it to your timeline.
How You Compare
Key Insights
- At your current pace, you'll reach enough by August 2054.
- You're 17% of the way to your enough number of $500,000.
- At this rate, you'll reach your goal 18.1 years late.
- Increasing your contribution by $2,400/month would put you on track to reach your goal on time.
- Increasing contributions by just $50/month could shave 15 months off your timeline.
- Your savings rate is ~8% — every dollar counts. Can you find $50 more per month to boost it?
Coach's Corner
Consider a 529 Plan
A 529 plan offers tax-free growth for education expenses. In many states, contributions are tax-deductible too. It's the most efficient way to save for education.
Tuition Inflation Is Real
College tuition has risen 5-8% annually — double general inflation. If your child starts college in 10 years, today's $25K/year tuition could be $40K+.
Pay Yourself First
Transfer savings the day you get paid, not at the end of the month. You can't spend what you've already saved. This single habit separates savers from spenders.
Export Results
Prep for Your Next Role
Practice interview questions tailored to the salary you need to hit your "enough" number.
Your Enough Plan
Enough Number: $500,000
Projected: $85,526
Growth Projection
Timeline
Monthly Savings Target
$2,923
per month to reach your goal
Current: $500
You need $2,423 more per month
That's about $97 per day
What If?
+$100/mo
Add $100 per month
27 mo. sooner
$102,631
+$200/mo
Add $200 per month
50 mo. sooner
$119,736
-2% return
Bear market scenario
63 mo. later
$77,182
What If You Saved Your Next Raise?
| Scenario | Final Monthly | Total Saved (10yr) |
|---|---|---|
| Save Nothing | $500/mo | $85,526 |
| Save 50% | $640/mo | $94,512 |
| Save ALL | $814/mo | $104,693 |
Saving ALL your raises instead of nothing nets you $19,167 more over 10 years.
Life Seasons
Add upcoming life events to see how they affect your monthly budget.
Click an event above to add it to your timeline.
How You Compare
Key Insights
- At your current pace, you'll reach enough by August 2054.
- You're 17% of the way to your enough number of $500,000.
- At this rate, you'll reach your goal 18.1 years late.
- Increasing your contribution by $2,400/month would put you on track to reach your goal on time.
- Increasing contributions by just $50/month could shave 15 months off your timeline.
- Your savings rate is ~8% — every dollar counts. Can you find $50 more per month to boost it?
Coach's Corner
Consider a 529 Plan
A 529 plan offers tax-free growth for education expenses. In many states, contributions are tax-deductible too. It's the most efficient way to save for education.
Tuition Inflation Is Real
College tuition has risen 5-8% annually — double general inflation. If your child starts college in 10 years, today's $25K/year tuition could be $40K+.
Pay Yourself First
Transfer savings the day you get paid, not at the end of the month. You can't spend what you've already saved. This single habit separates savers from spenders.
Export Results
Prep for Your Next Role
Practice interview questions tailored to the salary you need to hit your "enough" number.
Enough Number
$500,000
Progress
17%
The Cost of Education
Average annual tuition in the US: $10,000–$15,000 for public universities, $35,000–$55,000 for private. Over 4 years, that's $40,000–$220,000 before room, board, and books.
The good news: you don't need to cover 100%. Scholarships, financial aid, and student contributions typically cover 30–60% of costs.
Starting Early Makes a Huge Difference
Thanks to compound growth, saving $300/month starting at birth can grow to $120,000+ by age 18 (at 7% annual return). Starting at age 8 would require $600/month for the same result. Time is your biggest advantage.
529 Plans and Tax Benefits
529 college savings plans offer tax-free growth and tax-free withdrawals for qualified education expenses. Many states also offer state tax deductions for contributions.