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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We're at $450K and it's tight.  For those of you asking where the money goes, it goes to (1) caring for an aging parent who didn't save enough herself; (2) our nanny; and (3) college savings.  We were putting aside $1000/month per child for college.  We stopped last year.  We are financially drained and every penny counts, and I'd rather spend the money now on private school and then make up for college later.  I know that goes against what financial experts say, but I don't care.  We take two vacations a year, one we pay for, and one is paid for by family, and I am not willing to give up the one that we take, as it is my true sanity.

On paper, it seems like we should be able to afford this, but then something happens (major car repair, new A/C for house, mom gets sick), and we're back to square one.

I keep saying "next year will be better," but as an only child of a sick parent, I don't think that's the case, and I'm not willing to pull my kids (yet).  [/quote]

Tough spot no doubt.  However, do you recognize that you are repeating the pattern set by your "aging parent who didn't save enough herself."  The best thing you can do for your children is to create your own financial security.  By going "against what financial experts say," you are repeating the pattern.  I'm sure you don't want to wake up one day (when your earning years are over) and realize that you have not planned for your financial future.  As someone who has experienced the stress of caring for your aging parent financially, why would you want to risk imposing that pressure on your children?[/quote]

Oh, trust me, we have put aside for ourselves.  What we stopped doing was putting aside $1000/month per child for their college savings.  With what we have saved to date, plus figuring out that we won't have a nanny when our kids are in college, we'll be able to pay for college -- we just won't have it all saved, it will have to come out of our pockets.  And they always can take out loans.  [/quote]

Time-value of money says you're better saving now.  Just sayin'[/quote]

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