Reply to Did you folks not do ANY saving?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We make about $225k. Combined with what we're willing to take out of cash flow, we saved enough for our kids to go to a state school or a private school with merit aid (so max of about $50K/year). Yeah we could've gone 20 years without vacationing or not updated our 80s kitchen or driven 2002 Honda Accords, and then we could've afforded to send our kid to any private school they wanted, but...meh. We (collective "we") put waaaay too much emphasis on "the dream school" and "THE IVIES!!!!!11!!!" as if they're somehow going to drastically alter the trajectory of your kid's life or provide some sort of incomparable experience that could never possibly offered elsewhere and I just SMH. Especially when we know that outcomes-wise, that extra ~100K is very unlikely to ever "pay off." I have no desire to deprive ourselves for 20+ years. [/quote]

I totally agree with this post!  Paying more than 15% of your income or (15% of your net worth) toward an undergraduate degree for 1 child is ridiculous.[/quote]

OK, income and net worth should diverge substantially by the time a kid is in college.

I do agree that saving enough for a state school and then letting merit aid and loans cover anything a kid wants beyond that is an appropriate way to go and a path that shouldn't be dismissed.

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