Okay, so I made a huge mistake today. I went and visited an investment banker today at Edward Jones to try to get a grip on what I can do to invest some large sums of money I should be coming into in the next few days and weeks. While I was there, the lady I spoke to pulled up one of those Edward Jones (c) Education Calculators ™, or as I now like to call it: the “Make You Feel Despondent and Hopeless About the Future Device.”
For my stepson to head to a good private college after school, I need to start putting away RIGHT NOW about $2,500 a month into a HIGH YIELD investment account to fully pay for his college tuition. The reason is that adjusted for inflation, an education at, say, Austin College (a little known private liberal arts college in Sherman, Texas) will cost around $350,000 for all four years!
I’ve also got another child on the way. If I start putting money away right now, I can invest $300 a month for the next 20 YEARS to pay for his or her college tuition.
Higher education. What a friggin’ scam. I need to start a university or something. This is absolutely ridiculous!