Reply to Why do you resist being called rich?

Forum Index » Money and Finances

Reply to "Why do you resist being called rich?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

And you are delusional.  Why can't you afford private school for your 3 kids?

[/quote]

Well, cause it would cost us close to $90K - after taxes. Add in the cost of aftercare and you are easily in the $110K range - again after tax. So, even if you presume I make $200K net - that would leave $90k a year to cover retirement, housing, clothing, food, utilities, insurance, gas, emergencies, healthcare, 529 plans, unexpected homeownership expenses, etc. If you consider that financial advisors are now recommending $10K a year per kid for 529 (as absurd as that is), plus of course the standard "10% of your pay" for retirement, we are down to $40K for everything else. Could it be done? Maybe if we ate ramen noodles or didnt save for retirement. Point is, it would come with very large sacrifices. To me, having to make sacrifices in order to afford a decent education for your kids hardly qualifies someone as rich. It might be worth doing, but someone who is "rich" doesn't have that tradeoff to make. 
[/quote]

Not the PP but where do find a quality private in MoCo for $11,000, pray tell?

And here again, it shows that you are rich and have expensive tastes.  You can get private school in DC for as low as $14K, in the MD suburbs for as low as $11K and  in VA for at least as low as $12K.  And with sibling discounts, there are some places where you can put all three of your kids for close to $30K.  But then, you have rich tastes, so only look at the top schools with the top prices.  Surprise, you're rich.

There are many places in the area where you can get a 2000 sf house for under $500K even in a not-so-good school area and put your kids in private for under $40K a year.  Easily.  But then you wouldn't live in a status symbol community and might feel out of place with those making significantly less money than you.[/quote][/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics