Not really. If your kids go to an Ivy League school that could be $75,000/year for tuition alone in 13 years, (assuming $40k/year/person for tuition now plus 5%/year increases), plus room and board and spending money for 5 years (assuming they both go for Masters Degrees) you're looking at maybe not $1.5 million but over $1,000,000 for 2 children.