If you made $1MM annually, would you send your kids to private?

[Anonymous]

Anonymous wrote:I’ve never heard a private school parent say it wasn’t worth it. It’s classic confirmation bias.

Then you haven't been part of many intimate conversations with private school parents.
My parents often said for my older brother it was absolutely essential. He gave into social pressures easily and needed to be motivated. When in public school, he slacked off and wasn't focused and didn't reach his potential. Put in private, he rose to the occasion and his intellectual abilities came shining. He's now a successful consultant.

For me, my parents often remarked it wouldn't have mattered. I was always academic, introverted and had friends from different schools. I would've been in AP classes in public school no matter who was around me. I had several older siblings who had paved very successful paths.

It depends on your family and your kid

[Anonymous]

Anonymous wrote:I was making just under $1 million a year when my kids were in school and never even considered private. What’s the point? It’s not like it gives you an edge with Harvard, and I’d prefer that my kids get exposed to other kids from all walks of life - which you don’t get at a 50k a year private.

My kids went from public schools to state colleges (UVA, William & Mary, and VCU) and I retired nearly 15 years early with plenty of money. There’s no way I’d give all of that up just for some private school bumper sticker to put on the back of a Volvo.

Contrarily I would question what is the point of making close to 1 million/year if you can’t or chose not to select the objectively best school for your children without factoring in price. There’s nothing wrong with public schools, but it’s sad that you so clearly prioritize your own wants and desires over thinking about what might be truly best for each of your kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I was making just under $1 million a year when my kids were in school and never even considered private. What’s the point? It’s not like it gives you an edge with Harvard, and I’d prefer that my kids get exposed to other kids from all walks of life - which you don’t get at a 50k a year private.

My kids went from public schools to state colleges (UVA, William & Mary, and VCU) and I retired nearly 15 years early with plenty of money. There’s no way I’d give all of that up just for some private school bumper sticker to put on the back of a Volvo.

Contrarily I would question what is the point of making close to 1 million/year if you can’t or chose not to select the objectively best school for your children without factoring in price. There’s nothing wrong with public schools, but it’s sad that you so clearly prioritize your own wants and desires over thinking about what might be truly best for each of your kids.

DP.. I think it has to be more around value. We make 700K so not quite $1M and public school + extra private tutoring + summer enrichment classes is more bang for our buck. One of us has a more flexible job, so we have been able to help kids with homework when in elementary and middle. Not in DMV area, but our public high school is ranked top 10 in state and top 50 in US. This works for us.. kids are motivated and even in MS they started off with Algebra 1 in 6th grade, so top notch academics that we supplement with AOPS kind of depth in curriculum

[Anonymous]

Anonymous wrote:We wanted our kids to be friends with kids from rich families. Being in a social circle with people from the upper class was important to us. We sent them to private school (Sidwell Friends).

This is exactly who we wanted to avoid, just FYI.

Also, I think my adult children would have better use of $650k ($50k x 13 years, ignoring time value of money) than spending it on private school they don't need. Of the wealthiest, most successful people we know, none of them went to fancy private schools or fancy colleges.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I was making just under $1 million a year when my kids were in school and never even considered private. What’s the point? It’s not like it gives you an edge with Harvard, and I’d prefer that my kids get exposed to other kids from all walks of life - which you don’t get at a 50k a year private.

My kids went from public schools to state colleges (UVA, William & Mary, and VCU) and I retired nearly 15 years early with plenty of money. There’s no way I’d give all of that up just for some private school bumper sticker to put on the back of a Volvo.

Contrarily I would question what is the point of making close to 1 million/year if you can’t or chose not to select the objectively best school for your children without factoring in price. There’s nothing wrong with public schools, but it’s sad that you so clearly prioritize your own wants and desires over thinking about what might be truly best for each of your kids.

DP.. I think it has to be more around value. We make 700K so not quite $1M and public school + extra private tutoring + summer enrichment classes is more bang for our buck. One of us has a more flexible job, so we have been able to help kids with homework when in elementary and middle. Not in DMV area, but our public high school is ranked top 10 in state and top 50 in US. This works for us.. kids are motivated and even in MS they started off with Algebra 1 in 6th grade, so top notch academics that we supplement with AOPS kind of depth in curriculum

But clearly you still put a significant amount of thought and resources into the decision process and evaluating your children’s needs, whereas pp is basically bragging about blowing it off so she could retire early and have more money to spend on herself.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’ve never heard a private school parent say it wasn’t worth it. It’s classic confirmation bias.

Then you haven't been part of many intimate conversations with private school parents.
My parents often said for my older brother it was absolutely essential. He gave into social pressures easily and needed to be motivated. When in public school, he slacked off and wasn't focused and didn't reach his potential. Put in private, he rose to the occasion and his intellectual abilities came shining. He's now a successful consultant.

For me, my parents often remarked it wouldn't have mattered. I was always academic, introverted and had friends from different schools. I would've been in AP classes in public school no matter who was around me. I had several older siblings who had paved very successful paths.

It depends on your family and your kid

+1.

[Anonymous]

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Anonymous wrote:No. And we make multiples of that. But public school is an important value to us.

Similar here. Our HHI will be > 5mm this year, and we send our kids to MoCo public schools. While we aren't leading the PTO, we are regular volunteers at the school (one spouse with part time work far more than the other). It's the right community for our family, and we wouldn't change it.

While we make a lot now, one of us grew up poor/lower middle class, the other middle-middle class. MoCo public schools suit us well. Yes, not everything is absolutely "perfect." In our view, that is sort of the point--we think our kids learn a bit more resilience when not everything is always perfect.

I will admit though that one high-earning spouse's income provides an advantage that helps make public schools work for us: The spouse who works part-time is *super* involved with kids' homework, enrichment, etc. We joke that our kids have 100% of MoCo public plus 50% home school on top.

We have a $2.5m HHI and also send our kids to public. DH and I both grew up in middle class families so we also valued sending our kids to public. Now that our kids are getting older, I’m wondering if we should switch our kids to private for a better educational experience.

I wonder if my poor background has clouded my judgment on what is best for our kids. I drive myself and DH crazy thinking about where to send our 3 kids.

I was similar but, we switched out kids this year. I’m telling you to switch. Break out of your upbringing and give your kids the leg up.

If PP’s kids are settled and happy in their public then there is no reason to switch

- Parent of K-12 lifers

+1000

Not sure it's really the leg up that the PP thinks it is. My kids got excellent educations at our local Public schools. One thru college and excelling at adulting. The other in college and thriving at a T30 school. Academically motivated and smart kid---private HS would not have done anything more than ensure they were at school with rich kids and kids who don't live in our neighborhood (ie they'd have to drive 30-45 mins to see friends, so isolated from their friends).

You don’t know what you don’t know.

I’ve never been to public school ..prek through college in privates.. but my wife was public her whole life.

The career trajectory of my friends is exponentially better than her friends. Sure there are outliers but like minds attract. People that drop 45k+ a year on 3rd grade will raise kids to be successful (financially or academically). I don’t know a single kid from my graduating private that isn’t doing something fairly impressive.

By 30, most have made the leap to VP, Sr. Manager, entrepreneur, director, attorney, dr, etc.

Born on home plate and staying there. So?

+1

Same people who likely think attending an "elite" college gives their kid a huge advantage as well. All while not realizing it's the home environment and the attitudes instilled by the family that provide this drive, connections, etc. Their kid will do well no matter where they attend K-12 or undergrad.

I was PP. I think elite colleges are a total waste of money. My kids will go to MD for college but private k-12.

Private secondary school gives you a far greater knowledge base and skill sets than some overpriced NESCAC school. I went to an "elite" college and it was easier than my prep school.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No. And we make multiples of that. But public school is an important value to us.

Similar here. Our HHI will be > 5mm this year, and we send our kids to MoCo public schools. While we aren't leading the PTO, we are regular volunteers at the school (one spouse with part time work far more than the other). It's the right community for our family, and we wouldn't change it.

While we make a lot now, one of us grew up poor/lower middle class, the other middle-middle class. MoCo public schools suit us well. Yes, not everything is absolutely "perfect." In our view, that is sort of the point--we think our kids learn a bit more resilience when not everything is always perfect.

I will admit though that one high-earning spouse's income provides an advantage that helps make public schools work for us: The spouse who works part-time is *super* involved with kids' homework, enrichment, etc. We joke that our kids have 100% of MoCo public plus 50% home school on top.

We have a $2.5m HHI and also send our kids to public. DH and I both grew up in middle class families so we also valued sending our kids to public. Now that our kids are getting older, I’m wondering if we should switch our kids to private for a better educational experience.

I wonder if my poor background has clouded my judgment on what is best for our kids. I drive myself and DH crazy thinking about where to send our 3 kids.

I was similar but, we switched out kids this year. I’m telling you to switch. Break out of your upbringing and give your kids the leg up.

If PP’s kids are settled and happy in their public then there is no reason to switch

- Parent of K-12 lifers

+1000

Not sure it's really the leg up that the PP thinks it is. My kids got excellent educations at our local Public schools. One thru college and excelling at adulting. The other in college and thriving at a T30 school. Academically motivated and smart kid---private HS would not have done anything more than ensure they were at school with rich kids and kids who don't live in our neighborhood (ie they'd have to drive 30-45 mins to see friends, so isolated from their friends).

You don’t know what you don’t know.

I’ve never been to public school ..prek through college in privates.. but my wife was public her whole life.

The career trajectory of my friends is exponentially better than her friends. Sure there are outliers but like minds attract. People that drop 45k+ a year on 3rd grade will raise kids to be successful (financially or academically). I don’t know a single kid from my graduating private that isn’t doing something fairly impressive.

By 30, most have made the leap to VP, Sr. Manager, entrepreneur, director, attorney, dr, etc.

Born on home plate and staying there. So?

+1

Same people who likely think attending an "elite" college gives their kid a huge advantage as well. All while not realizing it's the home environment and the attitudes instilled by the family that provide this drive, connections, etc. Their kid will do well no matter where they attend K-12 or undergrad.

I was PP. I think elite colleges are a total waste of money. My kids will go to MD for college but private k-12.

Private secondary school gives you a far greater knowledge base and skill sets than some overpriced NESCAC school. I went to an "elite" college and it was easier than my prep school.

So you would happily pay 50k+ per year for private school from k-12 but then insist that your high performing child attend UMD even if accepted to Harvard/Princeton/Yale? Firstly I’m calling BS but in the event you’re not a troll enjoy having your adult child rightfully resent you for the rest of their life.

[Anonymous]

Anonymous wrote:Assume mortgage is paid off and you have three kids. Annual income is appx. $1MM, and outlook with current jobs looks good, but you never know for sure when one spouse could lose a job. Assume you live in a very good public school district and kids are middle school age. Would you switch to private for high school assuming it has the potential to accelerate your kids’ growth to a new level? Costs for each kid would be $50k/annually, but you also have to save aggressively for college, grad school, and you want to make a plan to pay for educations of future grandkids too.

What do financial advisers usually say about investing in private school? For any of you who have sent your kids to private, do you regret it as a financial decision? Felt it was a bad investment?

PS - I’m asking for primarily financial advice here, not trying to trigger the public v private debate that would be more appropriate in the education forum.

I make only $100k and both my kids went to private. Absolutely no regrets. My older one is in college now and said it is so noticeable who came from public school and who from private. The child got accepted to three Ivy League and went to college with full tuition paid by the school. The child's major is engineering and their employer will pay for grad school.

Can you afford it? Absolutely yes. Do you think it is worth it? It is up to you. If you are planning to pay for your kid's grad school and for the education of your grandchildren, then maybe it is not prudent to spend on private school. The problem now is you never know if your kids even make it to grad school, or if they even going to have grandchildren.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Assume mortgage is paid off and you have three kids. Annual income is appx. $1MM, and outlook with current jobs looks good, but you never know for sure when one spouse could lose a job. Assume you live in a very good public school district and kids are middle school age. Would you switch to private for high school assuming it has the potential to accelerate your kids’ growth to a new level? Costs for each kid would be $50k/annually, but you also have to save aggressively for college, grad school, and you want to make a plan to pay for educations of future grandkids too.

What do financial advisers usually say about investing in private school? For any of you who have sent your kids to private, do you regret it as a financial decision? Felt it was a bad investment?

PS - I’m asking for primarily financial advice here, not trying to trigger the public v private debate that would be more appropriate in the education forum.

I make only $100k and both my kids went to private. Absolutely no regrets. My older one is in college now and said it is so noticeable who came from public school and who from private. The child got accepted to three Ivy League and went to college with full tuition paid by the school. The child's major is engineering and their employer will pay for grad school.

Can you afford it? Absolutely yes. Do you think it is worth it? It is up to you. If you are planning to pay for your kid's grad school and for the education of your grandchildren, then maybe it is not prudent to spend on private school. The problem now is you never know if your kids even make it to grad school, or if they even going to have grandchildren.

Ivy League schools don’t offer merit aid. So your child’s scholarship was need based. Lots of top engineers went to public school, so I’m not really sure what point you are making.

[Anonymous]

Going to a top private k-12 is more influential on a person’s development than where they choose to go to college.

[Anonymous]

Anonymous wrote:Going to a top private k-12 is more influential on a person’s development than where they choose to go to college.

Says you.

[Anonymous]

I can spot a private school kid in a coffee shop.

[Anonymous]

Anonymous wrote:I can spot a private school kid in a coffee shop.

Me too. For better or worse.

[Anonymous]

Anonymous wrote:My HHI is 1.2 mil. We send our son to a public school.

We considered a few top notch private school in our area but didn’t feel like they are any better than his current public school( he is in 4 th grade).

But we may reconsider once he s going into high school. We ll see.

He is ranking in top 99 percentile in math and reading in Iowa testing. Once he s in 5 th grade he d be doing 6th grade math.

All the kids at our private rank like this compared to publics. The private schools typically teach one level ahead in reading and math for their mainstream students. Some kids are ahead of that and get differentiated learning tailored to their needs. My kids thinks this is normal, learning is fun, and I like the peer group. It's very positive environment. The publics around here don't even come close. I hope your son doesn't lose the live of learning in middle school or lose social skills - I see these things are quite common in public middle schools.