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Reply to "Does your social circle have a lot of family money/trust funds? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am not close enough to many of our friends to ask this question, but I do have one very close friend who doesn't work, her husband barely works, and I know for a fact she has a very, very substantial trust (like beautiful primary home, kids in private, house in Nantucket, etc.) What has shocked me most is just how many people have grandparents that pay for private school, either through a trust or just flat out. When two government lawyers have 3 kids at Sidwell you know that money is coming from somewhere else...[/quote] Yes, and it’s a very big gift. 180k post taxes annually as “help” is a huge leg up to save for the rest of life. [/quote] Plus, the GP are also likely fully funding college for those grandkids as well. Not having to save $300-500K per kid for college is Huge for your finances. It truly is one of the best "gifts" you can give your kids/GK. [/quote]
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