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Private & Independent Schools
Reply to "Private school -- what portion of income are people spending?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Ouch!! Our bank account just got hit with our first tuition payment of $4,200. This is going to be our monthly payment for the next 10 months. We are a one earner family which nets between $800K and $950K a year depending on bonus. Bonus is deferred and health insurance 100 covered. Our monthly take home is around $25K. No debt beyond a $2,500 monthly mortgage. We drive 7 year old cars and no country club membership. So I think we are good for another 4 years of private school. College is funded through 529.[/quote] So $42k in tuition is about 5% of your net $800-950k annual income. What in the world is causing "Ouch?" You clearly aren't spending much on your house and you drive old cars. I wouldn't know how to spend that much without a serious drug habit. [/quote] An expense is “ouch” if it feels big, even if you aren’t otherwise spending big.[/quote]
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