Can we afford $45k/year private for 2 kids? Stats included

[Anonymous]

Yes, of course, you can afford it. These posts make me crazy.

If you are worrried, start at a Catholic or Christian school then (tuition is cheaper), for high school, the amount will be the same 25k per kid a year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No way! Move to an area with good public schools.

There is no such thing unfortunately.

Where do you live that there isn’t at least a decent elementary school district? I’m sensing troll.

Elementary is 12 years of schooling for 2 kids * 50k = 600k of savings alone.

Never heard of a single city in America without at least one suburb with good schools.

FCPS and LCPS are horrible. Pulled my kids out and doing private. Other parts of the country may be better...but not here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No way! Move to an area with good public schools.

There is no such thing unfortunately.

Where do you live that there isn’t at least a decent elementary school district? I’m sensing troll.

Elementary is 12 years of schooling for 2 kids * 50k = 600k of savings alone.

Never heard of a single city in America without at least one suburb with good schools.

FCPS and LCPS are horrible. Pulled my kids out and doing private. Other parts of the country may be better...but not here.

Which private school?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No way! Move to an area with good public schools.

There is no such thing unfortunately.

Where do you live that there isn’t at least a decent elementary school district? I’m sensing troll.

Elementary is 12 years of schooling for 2 kids * 50k = 600k of savings alone.

Never heard of a single city in America without at least one suburb with good schools.

FCPS and LCPS are horrible. Pulled my kids out and doing private. Other parts of the country may be better...but not here.

I live in a town where public is better than private. We started at the only small private school we felt was within a reasonable drive. DC was reading and doing basic arithmetic when entering kindergarten. At the first parent-teacher conference, we asked the teacher what she could do to challenge DC. She replied that she has to stick with the curriculum, but "we are welcome to advance her at home." That is not what we are paying $40k (after donation) to hear. At least the public school has a gifted program.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No way! Move to an area with good public schools.

There is no such thing unfortunately.

Where do you live that there isn’t at least a decent elementary school district? I’m sensing troll.

Elementary is 12 years of schooling for 2 kids * 50k = 600k of savings alone.

Never heard of a single city in America without at least one suburb with good schools.

FCPS and LCPS are horrible. Pulled my kids out and doing private. Other parts of the country may be better...but not here.

Nice try. Loudoun doesn’t have any good private schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No way! Move to an area with good public schools.

There is no such thing unfortunately.

Where do you live that there isn’t at least a decent elementary school district? I’m sensing troll.

Elementary is 12 years of schooling for 2 kids * 50k = 600k of savings alone.

Never heard of a single city in America without at least one suburb with good schools.

FCPS and LCPS are horrible. Pulled my kids out and doing private. Other parts of the country may be better...but not here.

Nice try. Loudoun doesn’t have any good private schools.

PP is probably the same private booster who claimed to have a son at a Top 20 college and 8M net worth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No way! Move to an area with good public schools.

There is no such thing unfortunately.

Where do you live that there isn’t at least a decent elementary school district? I’m sensing troll.

Elementary is 12 years of schooling for 2 kids * 50k = 600k of savings alone.

Never heard of a single city in America without at least one suburb with good schools.

FCPS and LCPS are horrible. Pulled my kids out and doing private. Other parts of the country may be better...but not here.

Nice try. Loudoun doesn’t have any good private schools.

I am in Fairfax County. The Catholic school (and the private Christian school before) were far better than the years we were in FCPS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No can't afford it.

Just my salary alone (guaranteed income) is higher than your HHI and I don't even count our stock income. We send our kids to public school and bought our house well below what we "can" afford.

Wow what a greedy lousy parent you are. I'll be you drive a $100K car and travel to Europe every year too. But can't afford private school. Your poor kids.

I went to both public and private school growing up and my own experience is that private is a big waste of money. Buy a house in a good public district and call it a day. It’s ultimately up to your kid to succeed or fail. I’ve lost count on how many private school kids turned out to be duds.

Public schools aren't what they used to be. Yes, even the "good" ones.

I graduated in 2009. What’s so bad about them now? I remember back then everyone talked about how bad public school was too. The only thing I can think of is the woke brainwashing but then again, plenty of privates do that as well.

[Anonymous]

Can you save $1M over the next 10 years along with the private school tuition than there is a good chance you can swing it? I am using the $380K as your inflation adjusted salary. Also assuming your lifestyle expenditures are based on your $380K salary and not the $650K.

[Anonymous]

Your HHI is 650k, yes you can afford to send 2 kids to private.

Savings (401k, college, etc.) and tuition (school, camp) will eat away at a lot of your income though. But above 450/500k is the income threshold where private school for two kids is comfortable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No can't afford it.

Just my salary alone (guaranteed income) is higher than your HHI and I don't even count our stock income. We send our kids to public school and bought our house well below what we "can" afford.

Wow what a greedy lousy parent you are. I'll be you drive a $100K car and travel to Europe every year too. But can't afford private school. Your poor kids.

I went to both public and private school growing up and my own experience is that private is a big waste of money. Buy a house in a good public district and call it a day. It’s ultimately up to your kid to succeed or fail. I’ve lost count on how many private school kids turned out to be duds.

Public schools aren't what they used to be. Yes, even the "good" ones.

I graduated in 2009. What’s so bad about them now? I remember back then everyone talked about how bad public school was too. The only thing I can think of is the woke brainwashing but then again, plenty of privates do that as well.

2009 is 100 years ago. Too many screens. No discipline. Truly horrible. My kids hated school. Removed them from public. Night and day difference. They love school now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No way! Move to an area with good public schools.

There is no such thing unfortunately.

Where do you live that there isn’t at least a decent elementary school district? I’m sensing troll.

Elementary is 12 years of schooling for 2 kids * 50k = 600k of savings alone.

Never heard of a single city in America without at least one suburb with good schools.

FCPS and LCPS are horrible. Pulled my kids out and doing private. Other parts of the country may be better...but not here.

Nice try. Loudoun doesn’t have any good private schools.

I am in Fairfax County. The Catholic school (and the private Christian school before) were far better than the years we were in FCPS.

No. Maybe you can avoid the poors. But otherwise no.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No way! Move to an area with good public schools.

There is no such thing unfortunately.

Where do you live that there isn’t at least a decent elementary school district? I’m sensing troll.

Elementary is 12 years of schooling for 2 kids * 50k = 600k of savings alone.

Never heard of a single city in America without at least one suburb with good schools.

FCPS and LCPS are horrible. Pulled my kids out and doing private. Other parts of the country may be better...but not here.

Nice try. Loudoun doesn’t have any good private schools.

I am in Fairfax County. The Catholic school (and the private Christian school before) were far better than the years we were in FCPS.

No. Maybe you can avoid the poors. But otherwise no.

PP isn’t avoiding the poors at Catholic school. Lol it barely counts as private.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, when does your stock vest? What is ratio of stock to cash bonus? How stable are your jobs/industries? Is one of you a doctor (and therefore has more job security)?

One person’s stock vests monthly, roughly $6-10k per month. The other person’s stock vests quarterly and is roughly $30-45k per quarter. Both stocks have done well hence the upper ranges. One bonus guaranteed at 18% of base. Both in tech, but different companies and industries within tech.

What have you been doing with the RSU before now? I wonder if you could steadily sell it (and invest appropriately but not be beholden to two stocks) and earmark it for “school” and move off the rest. So that in a downturn, you don’t feel pressure on how to fund school while maintaining your other costs and savings.

We are newly doing private HS and are in a different but similar position and that is part of how I am approaching it. But HS is only four years (but would not be good to pull out midway).

This. A friend’s dad lost a quarter of his NW in a downturn while he collected and never sold company shares. My company is stable but doesn’t grow so I get my shares into s&p as quickly as I can

This is essential

You never want your investments tied up to company you work for. Too much can go wrong