Reply to Private school -- what portion of income are people spending?

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Reply to "Private school -- what portion of income are people spending?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This is OP.  Our gross annual is ~$850k including bonuses, and I forgot ~$70k in cash, though doubt that moves the needle on most peoples' opinions.  Thanks for the input so far.[/quote]

You can afford it. As you note, you'll be able to convert the nanny expense to tuition expense as you the kids get older. We let go of our nanny after the youngest was in K, for example.[/quote]

I disagree. Their NW is really low, and their spending is really high for that HHI. A couple of years ago in our mid-30s we had an HHI of $2m (not including $600k primary home equity) on a $400k HHI. Our HHI has since tripled and our spending has largely not increased so we put some of the extra $ towards private.

OP should only go private if they can severely curtail spending.[/quote]

They are only in their 30s. They have income investment and are maxing out on retirement investment? How high should their NW be to afford private schoo? Shouldn't they also expect that their income will only go up in the coming years, given their age? If a family with a gross income that is in the top 1 percent of all household incomes can't afford private school, then who can? [/quote]

Agree. Their HHI is $850k!!!! They could have a net worth of $0 at their age and still be more than fine with paying for private for two kids and saving from scratch for everything else. [/quote]

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