Reply to HHI to send 2 kids to private w/o FA?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP didn't ask if it could be done for less.  She asked where it would be comfortable.  I think below $500K you have to cut costs significantly somewhere, although if you don't both work that changes the calculus considerably because you need less outside help and have time to shop for better and cheaper alternatives to what is quickest to buy/order.  It depends on the particular circumstances of the family in question.[/quote]

What costs would you have to cut if you only had $300,000?  Yes, you might have to sell the beach house, but not if you never bought one to start with.   [/quote]

We have a HHI of $300,000, and I don't see how we could possibly send two kids to private school comfortably.  Our mortgage is $4500 (which affords us a nice, but not extravagent, house), we have no car payments, no school debt and NO BEACH HOUSE (I wish!).  After taxes, health insurance, bills, approx. $1800/month for our pt nanny (so I can work), savings for college and retirement, and a comfortable- think no fancy trips, but we don't watch our pennies on things like food- living, there's not much (if any) left over at the end of the month.  Once we no longer had the nanny, we could probably manage to send one child to private school without having to make too many sacrifices.  But to come come with an extra $30,000/year after taxes to send the second one would require a major lifestyle adjustment like moving to a smaller house and/or not saving a penny for college and retirement.  I wouldn't consider this "comfortable."  [/quote]

It is kind of ridiculous to think that with a HHI of $300K, you can't find $30K to send your child to private school (if you wanted).  You are over-spending somewhere. We earn $230K and send one to private ($30K) and live comfortably. I'm guessing that the difference is in housing. We bought small, but close in, so our mortgage is under $3500, and we don't have a nanny. We use after-care, which is much cheaper. I think that with two children, I would want to add an additional $75K (private school, college savings, etc.) to our HHI. [/quote]

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