Should I pre pay for my child's college or save it for retirments, etc?

I'd go with everything invested in one plan and use the money later for whatever it is needed for.

Depending on your income, I would suggest two options:

1. Pay the 5K now. College costs (currently $30,000 private; $22,000 State) are rising more than any investment you could use for your 529. The gamble here is what if your child cannot get into college, or simply doesn't want to go. Can you get that money back?

2. Put the money into a 529 and if your child doesn't get into a college, you'll have that money for retirement. If she does get into college, use student loans for as much of the cost as possible, then use the 529 money to pay off the loans.

Use someone else's money before you use your own.

How about half for you and half for her. Prepaying into the state plan can be good especially if she goes to state. Make sure she can use the money for any college in the US before you invest. Some funds only allow use at state colleges in the state where you live. Yes save for retirement at the same time. Talk to your financial adviser about the best investments for you.

Save for your retirement and don't pay a dime for your childs. Have them join the military when they are 18 and get 100 percent tution assistance. That way the only person out of Money is the government.

When they are 2, you have total control. Would you have wanted to go to a college your parents decided for you? It is a great deal, but life happens and kids get pregnant, drop out, do drugs.

What if your kid wants to go to a special art or music or tech school? You are limiting choices and risking wasting the money - your kid may not even want to go to college....may already have a successful business by then. May marry someone in china and move away. YOu have no control over them once they are college age. Talk to some high school seniors and see what they think about the idea. a certain percentage will love it. some will not. It is a risk/reward decision.

You may wish to talk to an independent financial planner and find out which will have the highest yield ... ie the college saving fund or a retirement fund. Avoid financial planners that only sell a limited set of products.

you can do both , the collage plan you will pay for now will save you thousands of dollars , think of what tuition will be in 16 years? you could also open a retirement fund , stash as much as you can now . its alot easier to do without now than when you get older,,, i give you a lot of credit of thinking of this now instead of later

IT'S TEMPTING TO SAY SAVE FOR COLLEGE, BUT THEN, WHEN SHE DECIDED SHE WANT TO BECOME A WAITRESS-WELL, SEE CHILDREN DON'T ALWAYS DO WHAT'S BEST FOR THEM. SAVE FOR YOUR RETIREMENT...................