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Private & Independent Schools
Reply to "Private school -- what portion of income are people spending?"
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[quote=Anonymous]I definitely feel poor based on this post but honestly don’t feel it. My HHI ~$250K (depending on self employed income). We have one kid in private at $35K. I’m lucky that I had some inheritance to put toward a more expensive house but carry about the same mortgage (~$550K) as I would if I lived elsewhere but pay significantly more property tax. We pinch pennies but it works for us. And for OP, you definitely need more in savings. As I said we make less than half of what you do and have ~$700K in retirement and another $200K in taxable/liquid savings (plus a college fund). I started contributing in grad school even with a pitiful graduate assistant salary. I’m 36 now. [/quote]
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