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Money and Finances
Reply to ""$5 Million is a Nightmare... the Poorest Rich Person in America.""
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[quote=Anonymous][quote=Anonymous]We're planning for 7 years of "college" to include grad. It may be more or less but 7 seemed like a reasonable #.[/quote] If you had 5-10 million in net worth and planned thoughtfully, this would not be hard to do for 1 or 2 kids (would need to make some compromises on your own lifestyle, but if education is what you value, that shouldn't be a big deal). More than 2 kids and that's really hard without more money, but then more than 2 kids is a choice. You could also tell your kids "We pay for undergrad, we will help to support you through further education but you will need to figure out bulk of funding on your own," and this would not be unreasonable plus might have the added benefit of encouraging kids to think of the ROI on further education, something too few students consider. A theme of this thread seems to be "I need more money because I am bad at life decisions/don't know how to make good choices for myself for my family." No one will feel bad for you if 5-10 million is inadequate due to stupidity and poor judgment.[/quote]
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