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][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]

+1000

Unless your kids have a real need for private school (is struggling in public), your kids will come out much further ahead with this plan.  Match your kid's Roth IRA and 401K contributions from time they start working until age30.   They will likely be set to have $2M+ at retirement just from that (possibly more).  Help them with their first home downpayment Much more beneficial long term than $45K/year for tuition in MS/HS.  Smart kids will do well no matter where they go to HS and the largest impact is the HOME environment for education.  [/quote]

To each his own. I’d rather give my kids the best education I can and launch them well. Don’t need to infantilize them by funding their lives. They can work hard like DH and I did.

(I mean TBH, I can afford to do both. But I have no intention of setting expectations of $$$ that early in their lives before they’ve even proven themselves)[/quote]

Many of us feel our kids are getting as good if not better education at the local public schools.  No reason to waste money.  So We did give our kids the best education we could.  Both are hard workers and at top schools for them.  Not every kid is cut out to apply to T20 schools and no amount of private school would change that---instead we focused on the private therapy and tutoring specific to there needs 2-3 days/week.  The private schools out there are not providing that.  My other kid is at a T25 school, so not much more we could ask for with their education.  [/quote]

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