Reply to If you made $1MM annually, would you send your kids to private?

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Reply to "If you made $1MM annually, would you send your kids to private?"

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[quote=Anonymous][quote=Anonymous]The thing with making $1M a year is that it is often non stable. In theory I will make about $1M this year, but I don't actually get about half of that money until I get my bonus and my stock vests a few years from now. So what I am living on is less than half that. And I could be laid off at any time. So I keep my kids in public schools, which tutoring and enrichment and a lot of parental involvement.

I am also worried about where society is headed with all this inequality and AI and part of me thinks the best thing I can do is just bank a ton of money for my kids that they can have starting in their mid-30s. I take the $90K that I would otherwise spend on private school plus my bonuses and save it for them.

If one of them had special needs or wasn't doing well in public I would switch to private but that is not the case.[/quote]

This 10000%. We make what will be $700K this year but I agree with PP. Money is often fleeting and my income this year may not be the same as next year. Plus, private school tuition is a helluva burden. Getting laid off, losing a large client, a health scare, or having any other unforeseen circumstance can completely change your circumstances. Most people do not account for the unknown. I don't want to be saddled with the stress of private so have opted for public. We are relieved and feel less pressured. We can also withstand any hits to our income should we hit a rough patch.

And agreed on the job market in 20+ years. God knows what opportunities there will be then. In the meantime, I'm going to save for the kids. [/quote]

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