Reply to NYC law partner w/ kids: "$850K gross is not enough to live on"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This thread is so stupid. I make $150,000 a year and I feel very rich (though with no kids).  That doesn’t mean I have no limitations on my spending, and someone who makes $850,000 a year we also have limitations on their spending.

I’m Republican but threads like this pull me somewhat more leftward. Above a relatively moderate income/net worth, money just becomes, at best, about these trivialities or, worse, about greed and status-chasing.[/quote]

Did you read the lady’s post? You cannot provide a strong education and [b]a room for every kid in a safe part of NYC on 850k.[/b] She’s not asking for a private jet and house on Jupiter Island, more just the bare minimum. [/quote]

This part is pretty funny.  The majority of the middle class areas in NYC are actually pretty safe or, at least, no more dangerous than the Upper East Side.  She can definitely afford those areas on her salary (and send her kids to private schools if publics are not to her liking), but she thinks those areas are beneath her.[/quote]

Name those areas. A TT private isn’t too receptive to kids from Douglaston, SI, and Woodlawn. [/quote]

My neighbors sent their daughter to Brearley.  Some scholarship assistance may have been involved as the dad is a public school teacher and the mom is a lawyer working for NYC.   I know another family that sent their kid to Horace Mann; the mom is a pharmacist, the dad is an executive in an insurance company, so UMC but not hedge fund money.  Both families are white, in case you want to bring up DEI.

Re: the billionaire connections.  My kid graduated from one of the top US colleges, and in his opinion, if you are coming from a HNW family yourself, you don’t need those extra connections and if you are not, you shouldn’t count on being a hanger on.  The social scene at his college was pretty stratified income wise and I assume it’s even more so when the kids go home after school every day.

And one more thing.  If you truly believe that the parents’ lifestyle, income and connections is all it takes for the kids to be successful, I have two words for you: Varsity Blues.  If the above were true, we’d never heard of Rick Singer.[/quote]

No one is denying middle class kids don’t get into those private schools. The odds if you are white and not full pay are low single digits even if you are qualified. A NYC public school teacher sending their child to private speaks volumes, the reverse never happens.

The connections always help whether you are rich or poor. And yes, if you aren’t rich plenty of Greek organizations and clubs won’t have you. You can still trade up socially somewhat.

I think you missed the point of Varisty Blues. You are allowed to bribe colleges to gain admission, it is very expensive. The parents in Varsity Blues circumvented this process by paying comparatively small sums to coaches which is illegal. If you want to buy in as a non alum, pay Harvard several million dollars. That’s the price tag, not a quarter million to a crew coach with fake SAT testing on top. [/quote]

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