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Reply to "household income of 250K to send kids to private school"
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[quote=Anonymous][quote=Anonymous]I would think at least 400k if not more to send two if you live in the dc area and the schools are at the high end of tuition. [/quote] that's not so pretty either for two kids. $400k gross ($37k) to two 401ks ($5k) to two 529s ($5k) healthcare (175k) to taxes (federal, state/county, Medicare/caid, SS, FICA) = $180k net after taxes and tax shields ($50k) mortgage ($40k) Kid 1 tuition + fees ($40k) Kid 2 tuition + fees ($10k) summer childcare/camps, any sports any season ($10k) groceries, lunches out, some dinners out ($10-20k) to investments ($5k) seasonal clothes/shoes for growing family ($5k) entertainment/vacations/repairs Wiggle room is in your spending habits and childcare options. $40k nanny, $25k au pair, $10k before/after care, grandparent, flex job parent. - private banker accountant [/quote]
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