Those who have children at privates, what is your HHI and net worth?

[Anonymous]

Anonymous wrote:1.6 mil and three in the school - around 40k each.
It’s a painful amount of money even at 1.6

Yeah, no it isn’t.

[Anonymous]

Anonymous wrote:

Anonymous wrote:1.6 mil and three in the school - around 40k each.
It’s a painful amount of money even at 1.6

Yeah, no it isn’t.

DP here. We have a HHI of $1.5-2.5m per year and have 3 kids. Our kids go to public. We considered switching to private but our 3 kids are thriving.

We can easily afford the tuition but we would absolutely feel it. It would be our biggest expense.

[Anonymous]

$3.5-4.0M income; $40k tuition. Plus we are paying a similar amount for a friend’s kid to go to private also. I won’t be obnoxious and claim that it’s hurting us.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:1.6 mil and three in the school - around 40k each.
It’s a painful amount of money even at 1.6

Yeah, no it isn’t.

DP here. We have a HHI of $1.5-2.5m per year and have 3 kids. Our kids go to public. We considered switching to private but our 3 kids are thriving.

We can easily afford the tuition but we would absolutely feel it. It would be our biggest expense.

What the heck are you wasting your money on? At that income level, you should be putting at least one-half to two-thirds away in savings. So spending $120k on private should not make you feel any change in your lifestyle. Maybe your brokerage account will be $8m instead of $10m in a few years, that’s it.

[Anonymous]

Anonymous wrote:1.6 mil and three in the school - around 40k each.
It’s a painful amount of money even at 1.6

This post belongs on a #shitdcumsays best-of page.

[Anonymous]

1.2 million annual income. About 7 million net worth (real estate). Two elementary school age kids in $40,000 private. We could save more by not paying tuition, but we think kids need the small class environment.

[Anonymous]

We make 300k and will have one kid at a Big 3 starting next month. It’s a huge sacrifice, but we wanted to give it a shot. If after a full year we don’t see the value and she’s not thriving we’ll be moving to a good school district and and sending her public. On paper, private is doable but if the value isn’t there we’ll put the money towards other experiences and learning for her. Really hoping she loves it though. Kids spend a lot of time at school, so we felt getting that right is important.

[Anonymous]

Anonymous wrote:$3.5-4.0M income; $40k tuition. Plus we are paying a similar amount for a friend’s kid to go to private also. I won’t be obnoxious and claim that it’s hurting us.

I commend you for supporting your friend's kid, I think that's wonderful you can support in that way.

[Anonymous]

Two kids, $20k each.

HHI is about $550k

[Anonymous]

Anonymous wrote:

Anonymous wrote:$3.5-4.0M income; $40k tuition. Plus we are paying a similar amount for a friend’s kid to go to private also. I won’t be obnoxious and claim that it’s hurting us.

I commend you for supporting your friend's kid, I think that's wonderful you can support in that way.

Agreed on supporting another child but it feels icky that you are talking about it. I’ll assume you don’t do that in local circles.

[Anonymous]

Anonymous wrote:HHI is $1-1.6/year. Our DCs are in lower school (elementary) and I think we may be on the higher end income wise. Different story in upper school based on the parents I've talked to there.

We are about 3 mill HHI. 2 kids in private with 100k tuition.

In lower school, we felt on upper end of parent income. Lots of doctor/lawyer families. Big law partners earned a ton and you had your wealthy CEO/Business types earning way more than us. In the upper school, we feel about “average”. We know of many families who earn more than us who have bigger homes, second homes, millions in the bank. But we know other families make way less. So I would say 3 mil HHI in our current school puts us in the upper 25 percent of our school.

[Anonymous]

Anonymous wrote:Shocking how much FA goes to families owning expensive homes (900K +) and making North of 200K.

That is considered middle class around here. You’re not living high on the hog with a family of four and private school expense. For us it meant driving 10-year-old cars, few vacations if any, and very little eating out or even movies. It was a major sacrifice even with financial aid.

[Anonymous]

$170k, paying $40k per year for private school for two kids (one gets some financial aid). Net worth about $2M, mostly in retirement and some house equity. College will be a struggle - kids will go to state or lower ranked schools for merit, but the investment was life-changing. Public school is not for sensitive kids.

[Anonymous]

NW of 16M. 3 kids in private.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My great great grandchildren will never have to work.

Sucks for them

Why, only better people work?