Reply to Private school -- what portion of income are people spending?

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[quote=Anonymous][quote=Anonymous]OP here. I didn’t mean for this to become a critique of our spending decisions, but that’s on me for including our budget info. Now that it has, though, just want to be clear that our savings isn’t only the $70k I put in a later post. I just forgot to include that $70k in my original post detailing our savings, which also includes $250-300k in 401k (depending on the market), $200k in stock and alternative investments, and $600k in home equity. Is that still pitiful? My spouse and I both went to grad school and are 31 and 36, so haven’t even been in our careers that long. Considering our income was around $450k until a few years ago and we came from a high cost of living area, I don’t know what we could have done differently to save more.

Ultimately I understand we have to decide what we’re comfortable with and weigh other non-financial factors, but to bring it back to the reason for my post, it’s helpful to get context from other people on the cost.[/quote]

I think everyone is focused on the savings because if you add in $80k more of spending, then you will not increase your savings relative to your income. Your income can clearly afford it, but given the low for your salary savings numbers, then the priority should be elsewhere. If it helps, we are also in a similar income range with 2 young kids in private and have a little over a million saved in investments and a little over a million in retirement accounts. We also have no car payments and our student loans were paid off years ago. If you pick private school, it would be at the expense of savings (which it is for everyone of course), but for you, it would be at a greater expense. [/quote]

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