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College and University Discussion
Reply to "Coming to Terms with Full Pay"
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[quote=Anonymous][quote=Anonymous]How much money do you have? You really shouldn’t spend $400k per kid on college unless you have a very substantial retirement fund already. I think your networth should be at least $3M, maybe $5M, to spend that much on college. [/quote] That’s too conservative! Conditions: Networth excluding primary home. > 3 x total expenditure on undergraduate studies Income > 2x median at the place you live… So 2 kids total about 800kx 3 = 2.4 mil ( excluding primary home) net worth For 1 kid the number is > 1.6 mil[/quote]
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