Reply to College Planning Upper Middle Class

Forum Index » College and University Discussion

Reply to "College Planning Upper Middle Class"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]You already have very generous retirement savings and I'm assuming you're in your late 40s, maybe early 50s based on your kids' ages? So another 15-20, of working at peak earnings. Many people with your income will pay for the expensive 70K a year college out of both savings and current income. You say you have $220k per child. You can easily pay for expensive private colleges out of that $220k and your current income. Right now that's $55k from savings, 20k from current year income. Easily doable.

I find your post a bit of a humble brag - if it is genuine. Racking up $3M in retirement savings, plus $440k in college savings, plus presumably your house/mortgage/equity and any other assets while only making $275k HHI. I'm sure it can be explained to some degree but it's a bit unusual without inheritances. By the way, most med students take out loans for all their education as it's expected they will earn the high salaries in the future to pay off their loans with some ease and discipline. There is no requirement for you to pay for your child's graduate schooling. Helping out is great, but it's not the same obligation as college itself. Your "DD" is also years away from medical school. She may change her mind. She may get weeded out by premed courses in college. [/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