Reply to Can we afford $45k/year private for 2 kids? Stats included

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]frankly your after tax brokerage and cash savings is very low for your income level. With mortgage and tuition to gobble up 180k per year you better be in your knees praying each night for those RSUs to pan out. because without that and your extravagant expenses you’re gonna look dead ass broke. Many people who have kids in private school have family money that are the safety net. [/quote]

They're in their early 30s. Their brokerage and cash savings are absolutely fine. You're just being a jerk. [/quote]

Is this the OP? What are you doing for childcare. Do you both work? What are you doing for childcare? Did you just start contributing to your HSA and brokerage? With kids I’m shocked you haven’t touched your HSA usually healthcare plans with HSAs have high deductibles and are generally bad so you have to tap them.

And I’m not the PP but both your 529s and 401Ks are pretty low. I’m guessing you bought your house for $1m in 2021 and now Zillow says it’s worth $1.4 million which is how you got to $700K equity. If your income is new you should see what happens with the stock. I work in an industry where big stock grants are common but this mix seems weird if both you and your spouse work. If only you work and this is one income it would make more sense. [/quote]

OP here. The above comment was not me.

We have a FT nanny. Both of us work, we have been contributing to the HSA for 6 years and have made a point to never touch it through two pregnancies so the money can grow and we use it in the future as a triple tax advantaged account.

We have contributed $8k per child per year to their 529s and plan to continue to do that, which is why we are at $75k now, and will be at >$90k by the end of this calendar year.

We put down $650k on our house 2 years ago. Mostly through savings (which is why our cash position is so low now) and some family help due to an inheritance . I am not counting on any/limited housing appreciation in my figures above. [/quote]

You have a FT nanny and now you want to outsource the remainder of your parenting responsibilities?!? So – in other words – the pregnancies you reference were both mistakes b/c you didn’t take the necessary precautions and now you’re scrambling to mitigate? Newsflash: the mega backdoor option isn’t always foolproof!

Recommending that you and your partner put the kids up for adoption so you can re-route your ill-gotten wealth towards further pleasurement and self-indulgency. You really take the cake, OP. So outrageous. [/quote]

How does having a full time nanny equate to both pregnancies being mistakes? And sending them to school = outsourcing parenting? The kids need to go to a school, whether public or private.

Not sure what is so outrageous about that. [/quote]

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