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Private & Independent Schools
Reply to "Private school -- what portion of income are people spending?"
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[quote=Anonymous][quote=Anonymous]This is OP. Our gross annual is ~$850k including bonuses, and I forgot ~$70k in cash, though doubt that moves the needle on most peoples' opinions. Thanks for the input so far.[/quote] Frankly, on that income and only $450k in investments, I’d push it to later years. You’re not financially secure enough to float tuition if someone loses a job, you barely have retirement savings, you’re still paying off significant student loan debt, and you’re clearly used to spending a lot if you aren’t saving more on $850HHI. The nanny money turns into sports, tutor, summer camp, etc money. You already made the big spend on your house. Get yourself on really solid footing before you hop in to private school tuition for 13+ years. So yes, you can certainly afford it, but not with your current spending habits based on your net worth vs income. (Unless you graduated from med school within the past couple of years, let’s say).[/quote]
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