Reply to household income of 250K to send kids to private school

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm not sure what we're doing differently than everybody else.

We have a HHI of about $300K.  We send our kid to public, but could easily do private out of pocket.  We have a second home (inherited) that we pay to maintain. We take an international trip every year or two.  We own a small boat.  Our house is about $1.1M with a $550K mortgage, and we drive a 2015 Toyota that we paid cash for.  We eat out far too much and seem to buy our one teenage kid way too many clothes (had to take a bunch to goodwill recently to make room for new acquisitions).

We have a fully funded college fund and may out IRA and 401K through work.  We put probably $25K a year into fixing up our house, and last year we pre-paid $50K on our mortgage balance.  We'll likely do the same again this year.

What do people spend all their money on?  [/quote]
Having more than one kid, for starters.[/quote]

Yeah, our lives would look a lot different with one teenager. We make pretty good money too. But with a kid in Kindergarten, a preschooler and baby ...we don't have an extra $50k to pay down the mortgage. I went to Catholic schools my whole life. But that was in the Midwest in the 1980s, when those private schools were full of kids whose parents were teachers, electricians, auto workers, etc. The paradigm has completely shifted. I truly believe in the value of private and parochial schools. But there's no way we'd qualify for any sort of aid, and I'd be a damn fool to drop $80,000 to 120,000 a year on three kids going to private school. [/quote]

Our parish school is $13k for 3 kids.  No where near $80-120k. [/quote]

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