Would you rather: inheritance vs. private school

[Anonymous]

Anonymous wrote:Would you rather:

1. Give each of your kids a $1m inheritance

2. Give each of your kids a $400-500k inheritance and send them to private PK-12

Assume college tuition and retirement are taken care of.

#2.

[Anonymous]

1! Man you could start living on the interest from that at some point.

[Anonymous]

This is such a privileged problem to have; can’t relate.

That being said - #2.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are trying to leave to each of our own kid real estate in the value of 1mil each. We aren’t there yet, but kids are still 6 and under. We are also doing private school for now, but that’s only because employer pays for half tuition.
My parents gave me real estate and I feel it’s my duty to do the same for my kids instead of using the money for trips, meals, clothes, etc.

If your employer is paying half, I"d absolutely do private school.

OP here and that is not me. I have to pay the full tuition.

[Anonymous]

Anonymous wrote:

Anonymous wrote:On what planet is a good idea to give any kid a $1 million inheritance? Way to destroy their ambition, drive and motivation to do anything for themselves.

Most kids would be full adults by the time that happens. Good for the parents for doing it.

No way. It’s still a bad idea.

[Anonymous]

#2 but my kids are dyslexic and they literally could not read without private.

[Anonymous]

Anonymous wrote:On what planet is a good idea to give any kid a $1 million inheritance? Way to destroy their ambition, drive and motivation to do anything for themselves.

Funny you say this.

My kids have a trust ... they get a small amount at 28, another small amount at 32 and the bulk at 35.

My lawyer said ... your crazy but I’ll write it up that way.

[Anonymous]

Anonymous wrote:1! Man you could start living on the interest from that at some point.

sis

A million dollars isn't that much money any more, not these days. It could be a great investment or a nice nest egg, but you'd still have to work. I vote for #2.

[Anonymous]

...And I don't know why my Kindle just called you sis.

[Anonymous]

Option #3. Parochial elementary/independent high school plus whatever the balance is.

[Anonymous]

Anonymous wrote:Would you rather:

1. Give each of your kids a $1m inheritance

2. Give each of your kids a $400-500k inheritance and send them to private PK-12

Assume college tuition and retirement are taken care of.

#2

[Anonymous]

Anonymous wrote:

Anonymous wrote:1! Man you could start living on the interest from that at some point.

sis

A million dollars isn't that much money any more, not these days. It could be a great investment or a nice nest egg, but you'd still have to work. I vote for #2.

I think that logic supports #1 because it is a more meaningful amount, even if not live on it forever. Your argument makes sense only if you believe that going to public would live your kid unable to work or in a meaningfully worse position career wise than private.

[hannalee27]

#2 better to motivate the kid to do more....I also consider private school to be a gift for them. Also for my own sake knowing I gave them the best education....

[Anonymous]

#1

[hannalee27]

But maybe for graduate degree #1 better