There was an article I read recently that saving $2000/year per year your child is will allow you save half the cost of a public university cost in state.$2k rule
The article says if you save $2000/year for a child that you will have $36k after 18 years. Pretty obvious statement. The article says most people don't save for college because they have no guidelines and think it unachievable. But if people followed this guideline it would seem more reasonable goal.
I figure anything you save like retirement will help. I just checked and DK1 has $19,976 and is 7 years old. We haven't contributed this year so we've contributed $12k. And DK2 is 4 and we haven't contributed this year so $8k contributions but has $13,024. Granted the markets have been good to the kids. But I'm just investing in VTI and being boring.
I will contribute after we buy the house each another $2k this year. I'm thinking maybe by 18 each kid could have $50k? Definitely about 50% of the cost of public school tuition. Also assuming we don't save any more.
I'll keep everyone posted as we go along. Since we really did start when they were born and are saving $2k into a ESA it'll be a good litmus.