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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, I've said this before, but you've ignored it.  After your last post I feel compelled to repeat myself.  You are in your early fifties and have $240k saved for retirement, with no home equity, and a spouse who has a spending problem and enjoys the finer things.  You apparently have little to nothing saved already for college, despite the fact that you have 4 kids, some of whom are getting close to college age.

Regardless of what you decide to do with the house, you need to abandon the notion that you are paying for college.  You absolutely cannot afford it.  I realize it will be hard to tell your kids, and you'll feel like you're letting them down.  But there's enough time for them to apply for merit scholarships or take out loans, and you can help them with incidentals.  But the idea that you are in financial position to pay for college tuition (never mind multiple tuitions!) is a fantasy.  No fancy graph or chart will change that. [/quote]

If we don't pay for private school ($4200) and we rent for $3000 (instead of $7000 mortgage) that gives us $8200 we didn't have, which is $98,000. Couldn't we save $60,000 for retirement and spend $40,000 on college? (May need a little less or a little more depending on choice of college). Planning on kid one working/doing a paid coop and kid 2 getting merit aid.[/quote]

Yes.. And I'm not PP....but honestly I think your retirement needs to become a major priority ASAP. I'd have them take loans and if in 4 years your assets are doing well offer to pay off a portion or all. For the sake of making it up, let's say you can turn that $400k into $700k in the next 5 years, wouldn't you be better off with that than a paid off college bill, particularly given your ages? Put differently if one of you loses a job in 5 years, you can't borrow back against the college you've already paid off. Right now you need to take a massive leap into the "holy shit I'm retiring in ten years and have nothing" pool.

- graph guy [/quote]

Holy crap, OP, do not even think about paying for your kids' college educations, or any more private school, for that matter.[/quote]

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