Reply to Yes, tiny violin - did anyone else struggle first years of law partnership?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Also private school: yes it’s a lot but in our case it paid off for our DC. [/quote]

Private school can add up quickly.  We pay for private schools via cash flow (like OP).  But it seems like a lot of the kids have grandparents paying the bill (instead of parents who are grinding away).

It's a lot harder to build wealth when you're spending $100,000 [u]per year[/u] (for 2 kids), x 12.  Then $85,000 per year per kid x 4.[/quote]

What's the point of making 1m a year if you can't buy in a good school district? [/quote]
Your choice of private school puts you in a cash bind because you can't afford private school. So if you choose private school, you need to sacrifice other things. You're right, you cannot build wealth and you cannot compete with others who have grandparents footing the bill. 
We were similar - first generation, no money, lawyers. We did everything we could to buy in a good school district and sent our kids to public elementary schools. Because we could eventually save and invest money, we're now in a position to be full pay for college and we'll be in a position to pay for our grandchildren's private schools if their parents want. You can't have it both ways -- or you end up in your position.[/quote]

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