I totally get where you're coming from and agree with (nearly) all of it - not that you should care about my agreement. 😁

The one thing I'd offer from my experience is that you may want to reconsider the part where you say you don't plan to pay for your kids' college.

My parents paid my tuition (a few thousand dollars back then), and I've paid my kids' full cost of attendance minutes their scholarships, though we made it clear they were expected to work part time during semesters and full time in the summers.

So far, the only impact that has had was to allow all of us to start out at the starting line rather than far behind it. If you can afford it, which is a big if for most, I think a paid up college education is one of the biggest gifts you can give your kids.