At what income level is it a no-brainer to go private?

[Anonymous]

On the do what's right for each kid, even at lower income levels, parents might consider private if the kid truly needs a smaller environment, less pressure, more support, etc. So it's not purely a question of income. At the very high income levels many parents, for example in W clusters, still opt for public because they think it is the best fit for their child, even though they could easily afford the most expensive privates. There's no purely income determinative answer here.

[Anonymous]

This has nothing to do with what level of income requires private. It's about fit. I have friends who are millionaires with kids in public and friends who are very middle class and send to private for whatever reason.

[Anonymous]

Anonymous wrote:We are slightly below your HHI - income is 1.2/1.3M a year, and even if private was what we thought was best for all three of our kids (1, 3, and 5), we don't view it as an easy decision. As a pp said, our take-home income is 600-700k (most is taxed in multiple jurisdictions including major amounts due in DC, NY, & CA). Our friends at Cathedral/Sidwell say annual school payments are well over 60k with technology fees, trip fees, etc., and we aren't comfortable with 1/3 of our income going to schools. The biggest unknown is whether our incomes will keep up with annual 4-5% tuition hikes, because that 1/3 could quickly get worse. We are starting our kids at our public elementary and then re-assessing in a few years.

Not OP, but this is completely my concern with starting in private at K. We are only at $650k HHI with 2 toddlers, and thinking about a 3rd. Considering $150k+ annually to send 3 kids to these schools is a bit nauseating, and I am concerned that our income may not keep up over the next 12-15 years.

[Anonymous]

It’s not income but net worth. I wouldn’t do it if the expected costs represented more than 20% of my expected net worth.

[Anonymous]

When DC started in private (started in K, 10th grade currently) HHI was $200k.

Now HHI is over $600k. We only have one kid but regardless of private or public we wouldn’t purposely change careers/trajectories at this point and take huge pay cuts. Been saving for retirement and college in addition to private tuition. It can be done.

[Anonymous]

Anonymous wrote:It's never a no-brainer. Private schools have down sides -- and public schools have advantages -- beyond financial. What do your kids need?

Plus 1

[Anonymous]

HHI is 1.8m and we have 2 in private and a nanny (youngest is 3) and all in it still feels like a lot even at our income when you factor in general cost of living around here and our mortgage.

[Anonymous]

Anonymous wrote:HHI is 1.8m and we have 2 in private and a nanny (youngest is 3) and all in it still feels like a lot even at our income when you factor in general cost of living around here and our mortgage.

Thank you for sharing. I will admit this is depressing to hear.

How long have you sustained that HHI? Do you have significant savings to fall back on?

[Anonymous]

Would posters mind sharing what industry they are in? We are also considering private for our DD and had similar concerns.

[Anonymous]

Anonymous wrote:HHI is 1.8m and we have 2 in private and a nanny (youngest is 3) and all in it still feels like a lot even at our income when you factor in general cost of living around here and our mortgage.