Reply to Cost to fully fund a private education up-front

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Boarding school is about $50,000/year right now. Considering how quickly tuition has risen, by the time today's infants are ninth graders, it could easily be $70 or 80 a year.

If you are talking about top flight privates + boarding + private college, it's possible a million might not do it.[/quote]

OP here.  Thanks.  We have $400k under management right now designated for education expenses and 17 years till college.  The day schools we are most interested in are in the $10-13k range for kindergarten and tuition increases by year to about $16-20k by 8th grade.  We are not in a major metro area so $30k elementary tuition isn't something we have to worry about.  I am trying to figure out whether we can achieve all we have set out to with the money that has been set aside so far, whether we have designated more than necessary for this purpose, or whether we need to consider adding to it.[/quote]

Not clear why you want to have fully funded education? Do you not expect to have any earrings the next 17 years that you can use for education? We just paid as we went for private pk-12 (c. $20-25k for Pk-8, $35-38k for 9-12 for 2 kids). We focused our savings on college since it is tax advantaged to do that.

But $400k sounds much too low given that you will be drawing down principal quickly. Why don't you just do a model, or ask your money manager to do one, that shows the outflows relative to the balance, assuming a reasonable rate of return. [/quote]

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