Reply to Does everyone on here with kids applying to top 50 schools really have the $80K per year to spend?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]we'll be full pay (on 150k a year, but a stock portfolio that does well and not a lot of way to shovel this into retirement bcs we make 150k a year!)

I can see spending down our assets to pay for HYPSM. After that, it's a much tougher call.  After top 12ish, it's a much easier call.

We told our kids this before they even started high school.[/quote]

us exactly.  dh says we should buy a yacht to shelter it.  not really, but .. it's all so messed up.[/quote]

Some of the ivy league colleges are stopping looking at house value as collateral. Pay down your mortgage instead (if you have one)[/quote]

Depending on the age of your kid, you can also purchase a cash-value life insurance policy.  Life insurance is not considered in assets and after about the first 5-7 years of the policy, the cash value starts growing in excess of what you contributed.  I think Whole Life with a AAA company is safer/better (essentially guaranteed return) than Variable Universal (invest in stock market) because if the stock market takes a big hit then it can be like a margin call.  Unfortunately, this has happened with the 2008 financial crisis and then when COVID hit in 2020.  You can also contribute more than the premium in order to increase the cash value, although there are limitations of how much extra cash you can contribute.

You can also borrow against the policy up to your cash value, which is a way to pull your $$$s out tax-free.[/quote]

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