How rich are private school parents?

[Anonymous]

2 kids, $500k Base plus $500-800k bonus all taxed to the hilt.

I agree with the PP, 750k gross if paying via income or not slashing family budget (travel, summer camp, lunch out).

Both sets of grandparents think private school is nuts and would rather see the half the money donated to UPenn where we all went.

[Anonymous]

We pay our kids tuition, our friends who are in nonprofits and teach get a discount based in their income, and then have their grandparents pay. They all went to private school as well. Society’s elite you know.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Realistically, for a family with more than one child in private, it would be a financial strain if HHI were much lower than $400K. Sure some families do it on less, but most people opt out unless their income is high enough. So based on that, I would say a majority of families are making at least $400-500K.

I see this a lot, but many privates aren’t that much more expensive than daycare. Yes, it is a huge expense, but I think people could afford it on much less than $400k per year.

Which daycares are $38 - $45,000 a year per toddler? Serious question because we didn't look into daycare back when.

Independent schools in D.C. average $40k now. I assumed that when op asks about "wealth" at a private school, she doesn't have the much-more-economical neighborhood parochial k-8 in mind.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Realistically, for a family with more than one child in private, it would be a financial strain if HHI were much lower than $400K. Sure some families do it on less, but most people opt out unless their income is high enough. So based on that, I would say a majority of families are making at least $400-500K.

I see this a lot, but many privates aren’t that much more expensive than daycare. Yes, it is a huge expense, but I think people could afford it on much less than $400k per year.

Which daycares are $38 - $45,000 a year per toddler? Serious question because we didn't look into daycare back when.

Independent schools in D.C. average $40k now. I assumed that when op asks about "wealth" at a private school, she doesn't have the much-more-economical neighborhood parochial k-8 in mind.

My kids are juniors/seniors in high school, so they've been out of daycare for about 15 years. I was paying over 2K/month for daycare in 2000/2001 (1k per kid). I have no idea what the costs are now, but it was around $14K back then, so I can imagine it's over $25K now

[Anonymous]

I just checked and the daycare I used when my children were younger is now over $27K per year.

[Anonymous]

Dual-income of $2.5 million. 2 in private in DC. We feel like most families are doing better than us.

[Anonymous]

Anonymous wrote:Dual-income of $2.5 million. 2 in private in DC. We feel like most families are doing better than us.

Why? You know that this is clearly not the case.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Dual-income of $2.5 million. 2 in private in DC. We feel like most families are doing better than us.

Why? You know that this is clearly not the case.

Kids’ houses, cars, vacations, 2d homes, 3d homes.

[Anonymous]

Clear thread....grandparents are paying.

[Anonymous]

Anonymous wrote:Dual-income of $2.5 million. 2 in private in DC. We feel like most families are doing better than us.

Most? Then why are all you rich families such skinflints when it comes to annual giving?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Dual-income of $2.5 million. 2 in private in DC. We feel like most families are doing better than us.

Why? You know that this is clearly not the case.

Kids’ houses, cars, vacations, 2d homes, 3d homes.

A facade. I know a number of families that lease their shiny luxury cars, vacations are paid on credit, and 2nd homes belong to grandparents. My sister is a realtor in this area and is privy to a lot of financial information--according to her it is very unusual for private school families to have incomes in the 7-figures. Most hover in the $300K-$700K range. (Of course, this is still a ton of money in the grand scheme of things.)

[Anonymous]

HHI of $225k. We have one child at a PK-8 and full pay. I have no idea how we compare to others. We will do public high school.

[Anonymous]

Anonymous wrote:As mentioned, a wide range and as DK puts it, "it's not like the kids from the insanely rich families did anything to earn that wealth, so we don't think they are any different than the rest of us. We are an FA family.

My husband’s family is very wealthy. When someone says that he is humble, he says “why wouldn’t I be? I didn’t do anything!”

[Anonymous]

Anonymous wrote:I think we earn enough to afford private, but we are just another ordinary dual income professionals in the area, and we live in a very modest house

Can someone tell me what majority of private school families are like financially? I don’t want our kid to feel that he’s the poorest one in the class

Two public school teachers. Combined income was $160-180k and we got 80% FA. I felt we were on the poor side, but DC barely noticed except the size of houses for play dates.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think we earn enough to afford private, but we are just another ordinary dual income professionals in the area, and we live in a very modest house

Can someone tell me what majority of private school families are like financially? I don’t want our kid to feel that he’s the poorest one in the class

Two public school teachers. Combined income was $160-180k and we got 80% FA. I felt we were on the poor side, but DC barely noticed except the size of houses for play dates.

Oh you are on the poor side.