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][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]

we did this.  probably is the reason we have healthy vanguard account is because we didn't trade up to a 2.5mm house.  if we had done that, we wouldn't have out investment account, but we'd have a very valuable primary home we could downsize from.  I feel like the home equity part should have a cap tbh. I mean, should we buy a place now, 12 months before the apps go in?  that seems sketch to me.

life insurance also scares me. I just don't understand it.  again, people with good investment accounts are good at investing.  life insurance sounds like a bad investment vehicle (again, I need to learn about it obv and factor in FA savings).   think I am going to buy a single premium long term health insurance policy.  [/quote]

Whole life pays more than a savings account/bonds, but less than equivalent amounts in the stock market on average.  Of course, the stock market has gyrations and hopefully you don't need the $$$s exactly when the market tanks (again, think March 2020, or 2008/09).  You also quite obviously have life insurance as well...and it gets to the point where the amount you receive in annual dividends far exceeds the premiums on the insurance so at that point you have life insurance essentially forever (although, you can continue to pay premiums and increase your cash value if you want).

Just suggesting another alternative to buying down your mortgage if you want to shield your assets for FA purposes.[/quote]

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