When my oldest was eight, my wife and I paid off our mortgage early. It was a heavy lift, but we did it.
From that time on, we put the “mortgage” payment into 529 Savings, to pay for college. Month after month, year after year, we kept on paying a mortgage, because we knew that is what it would take to have the money available when the kids got ready to go to college.
Time passes, college rolled around, and the money was there. The kids will graduate without crushing debt. We were on the right side of the interest rate, all the way.
In other words, I’m a schmuck.
I should have just spent the money. I should be driving the Mercedes, and I should own an airplane. I should have been eating the richest food and drinking the finest wine. I was an idiot to save for my children’s education, because that is a bill I would not have to pay.
I did the right thing. I scrimped and saved. I am a schmuck.
You have integrity.
Aaaahhh, but soon it will become your bill to pay for someone else's kid's education.
You are not a shmuck. You are a responsible parent.
In other words, I’m a schmuck.
I am a schmuck as well. For over 30 years my wife and I have put our nose to the grindstone, happily living a middle class life, but not much separates us from the supposed “poor”. Section 8 housing, scattered site housing (which moves some of these people right next door), reduced utilities, welfare, WIC, food stamps, reduced/free college, free health care, free phones, unlimited community outreach and support, on and on. Thus I’m being played, I’m a schmuck, I’m a loser, I work my ass off and the next door neighbor is living the same lifestyle. The middle class is being played.
We did the same. Schmucks R Us. I’m guessing Bernie won’t be reimbursing us for our paid in full out of our own pocket college expenses.
If we’d invested that money, we wouldn’t be living in a dump, driving old vehicles, down to one pair of jeans and limiting food to $5/day and having enough to get the surgeries we need.