Reply to Would you send your kids private on these HHI/Net worth figs?

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[quote=Anonymous]We have recently moved to the US from UK so need some advice. We have a HHi of 400k but a net worth of about $3m. Our income is forecast to be fairly stable. We have two small kids in preschool and a part time nanny. Monthly expenses are as follows:

Rent: 4000
Nanny : 1400
preschool: 850
Other expenses: 4000 - 5000 per month 
Our net take home is about 17k and dont do a 401k at the moment so save about 6-7k per month.

Next year we will sign up for the 401k so our take home will go down to 16k, but 401k savings will be about 1800 per month.

We live in alexandria at the moment in a poor school area and our choices are to move to mclean/bethesda and go public or go private in Alexandria. Private will cost about 40k p.a for both the children. We love Old town where we currently live.

We will not have a nanny once the kids are in school so will save that but our child related expenses will almost double from 2k to 3.5k and that will come out of savings.

What do people on this forum think - are we being too conservative?  At some point, we will buy a house here (maybe about the 1mm mark and it will be mortgage free so will save on the rent money). [/quote]

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