See how much starting to save today versus waiting even one more year could change the money you'll have by the time your child heads to college.
The age of your child at the end of this year.
The outstanding balance on your current college savings accounts.
The amount you plan to set aside each month for education costs.
The interest rate you anticipate to receive on your college savings accounts.
Table of Historic Rates of Return. Inflation 2.9%, U.S. Treasury Bills 3.3%, Long-term Government Bonds 5.0%, U.S. Large-Company Stocks 10.4%, and U.S. Small-Company Stocks 11.8%. Past performance is no guarantee of future results. Source: Ibbotson SBBI 1926-2024
How often the investment return compounds each year.