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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I think he's more the norm than people would like to admit in DC.  $300K income but house-poor with a $1.2 MM home in Chevy Chase and private school tuition.  His parents were typical white-collar in CC as well.  He likely had student loans that were paid off, so he didn't start saving for retirement until later (thus the $500K TSP).  He has wealthy friends and a slight desire to keep up with the Joneses (see said house and the expensive baseball tickets).  I think he's pretty typical.[/quote]

Agree.  I never realized how many people manage their finances this way until our oldest applied to college.  Then, suddenly, people who had been spending lots of money they didn't really have had to tell their kids they couldn't afford to go to private colleges or even more expensive OOS publics unless they got merit money.  Ugh.   [/quote]

Because those people don't care about status colleges. We told our kids that they will go to the college where they are going to get scholarship. Each of them had three options with full scholarships. No, it was not their first choice, but they were free to get loans to pay for college, and they chose not to. [/quote]

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