Reply to Can two fed govt job family afford to send two kids to elite private school?

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[quote=Anonymous]Due to job change (from Fed to private sector), our HHI recently bumped up from $280 to $400. (and the $280 was a recent bump-up from more like $220 from just a couple of years ago).

We're in a very good (although also very crowded) school district.  So far, only one DD in school (3rd grade) and all is well.  She is well-adjusted socially, happy to go to school, appears sufficiently challenged and to be learning at what seems to me a good pace.  We very much like her current teacher.  DD#2 will start K next year.

At $280 HHI, we absolutely would not have considered private school.  We are not spendthrifts but our bump from 220 to 280 meant a difference from not maxing out both of our 401k contributions to doing so.  Still, at $280 we were not saving at all for college.  Part of the rationale of the move from Fed to private sector was that the new income would go toward college savings.  We currently have about $250 combined in our 401ks.  We are in our early 40s.  We own a very modest 3bd home (bought in 2006 with a jumbo mortage) and two paid-off cars (one of which is 8 yrs old).  We have no financial help from any family member.  We did have significant school loans which have been paid off.

We do value having money to travel multiple times per year.  One of our families lives in the Europe, the other in the US but not close by either.

So, I totally understand how on $300 HHI 2 private school tuitions would be scraping by.  Even on $400HHI we have chosen not to consider privates unless down the road we are driven to do so.  This even though I truly value my excellent education from a very selective private and do believe that early years' education is just as - even if not more - important.  [/quote]

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