Tonight I pillaged my son’s piggy bank – because it’s not like he needs the money, anyways. Best case scenario, he ends up putting the coins up his nose, and needless to say I have no desire to have that hospital adventure anytime soon!
Besides, I guess that moving them from one place of his to another isn’t really stealing when it comes down to it, anyways… 😛
Regardless, my curiosity having been piqued at the handful of bills in his jar on top of the coins, I spent about an hour counting everything while I was watching a movie the other night and low and behold … there was about $75 sitting in that piggy bank on his dresser! Playing into the finance and investing kick that I’ve been on this year, I didn’t even have to do the math to know that it’s worth far more to him sitting in his college fund growing over the next decade and a half than it is literally collecting dust in his bedroom.
Of course, just for fun I did the math anyways and came up with something like $250 over 16 years of 8% growth!
Even if that’s a bit aggressive to expect as he gets closer to graduation time, even doubling it is still better than the value of all that dust he’d otherwise be collecting as far as I’m concerned…
And that’s how we inch one step closer to having $1,000 in his college fund at the end of its first year. 😉