We use Roths as well (adults). No matter what, we get no deduction on our IRAs (income too high), so we backdoor our IRA contributions to the Roth in order to have more flexibility, tax-advantaged space and tax-free withdrawals during retirement. Same reasoning why we are very pro HSAs as well.
Roths can be helpful to many many people (teens and adults, high and low income). Especially if one has access to a low cost 401(k) as well.
This I have never understood the benefit of.
I buy municipal bonds so I plan for high income, low taxes. I completely missed it on the kids. Glad I tuned in
@itsgettingreal21 I am not sure I understand. Can you explain what you have never understood the benefit of?
The backdoor Roth. Just looked at it again and makes sense. Ignore my prior post.
I agree that investing in 529 is a good thing. We invested in it since our child was born. She went to an Ivy league full pay. No, the 529 money which did very well, did not cover all 4 years. It was only for 2.5 years.
We have one child so paying the rest of her college was not a hardship for us. Grandparents did not contribute and we did not expect them to.
I saved in 529 plans for my kids (who are now many years out of school). I saved to try to cover tuition at an instate university, and intended to cover whatever remained out of assets, current income, and possibly loans. The kids ended up at T30 LACs (2) and one OOS state university. So, I did use 529s, savings, current income and some loans to pay. But having substantial savings in the 529’s gave me some flexiblity. The parent’s loans are now completely paid off.
I also started a Roth IRA for myself to help with education payments because: 1. retirement assets are not counted in the FAFSA. 2. I could withdraw at least the principal without any penalties at any time. 3. If I did’t use the $ for education, I’d have it to supplement my retirement. One disadvantage is that withdrawal from a Roth would be considered as income for the child on the FAFSA, so I planned to use the Roth for the last year of education expenses.
I opened 529 plans and my Roth IRA plan with Fidelity. One reason is that Fidelity has a credit card with 2% cash back, but into a Fidelity account. So I was reinvesting my CC rewards into the 529 plans, and am now reinvesting back into Roth IRAs for myself an my wife.
Maryland’s 529 is through T Rowe Price so my kids 529s are through them.
I started my oldest son’s Roth through Charles Schwab.
My kids started their investment accounts and the one kid’s Roth thru Merrill Lynch. They got “in” through us/our accounts.
So glad they are learning to save. They will get out of school with money in the bank - unlike me! 
Good childcare costs as much as state college tuition for many households and we suddenly felt rich when our kids entered public school kindergarten. That’s when we started the 529s. Won’t have enough for all four years but glad that we did it. Actually I created the accounts - spouse wasn’t much interested until the amounts started to grow.
That’s a good point. I can see that being s good time to switch from paying for childcare to saving for college.