$10,000 in This ETF Could Send Your Kids to College
It is never too late to start investing for your kids' college education, but the earlier you start, the much better off you will be. If college is just a few years away and you haven't saved much, your strategy will be much different than if your kids are still small, or perhaps not even born yet.
But for argument's sake, let's say your child is just starting preschool and your first college payment is 15 years away. Here's how you can save enough to pay for all four years with a single investment: the Invesco QQQ (NASDAQ: QQQ) exchange-traded fund (ETF).
The average cost for in-state tuition in 2021 is about $10,000 per year at a public college, according to the college cost specialists US News and World report and Education Data. . The average cost for room and board is about the same, so you're looking at $20,000 per year. Note, this is a national average for in-state tuition. In some states, it is going to be higher, in some cases much higher. And if you're looking at private institutions, cost will be higher still. But these calculations will give you a baseline to work off of.
Source Fool.com
