2. Turn off the main water supply for the house. Put a bucket under the drain pipe. Open the cold-water handle of the kitchen faucet and let the water drain out if you're replacing the cold valve. Drain the hot side if you're replacing the hot valve.
According to Fidelity, a family making $55,000 would need to save $48,000 to cover the qualified expenses of a public university and $107,000 to cover such costs for a private one. This translates into saving $160 a month for a public college and $410 a month for a private one.
Roth IRA vs. 529 College Savings Plan. Most individuals wonât be able to fully fund their childâs college expenses with a Roth IRA because of the maximum IRA contribution limits : $5,000 annually ($6,000 if youâre 50 and older). If you contribute to a Roth IRA and qualify for the Saverâs Credit, you could get a break on your taxes. 2  On the other hand, contributions to a 529 plan or other college savings plans are not eligible for this credit.