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Reply to "Can we afford $45k/year private for 2 kids? Stats included"
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[quote=Anonymous]Hi OP, You need to put together a budget. It will tell you whether you can afford it. Start with your take-home pay. It’s probably about $250k. You have $100k committed to PITI. If you want to commit another $100k to private school tuition, you are left with $50k. So this means that you have to rely on your stock to pay for food/car/savings/kids’ activities/camps/vacation. Is it doable? Sure. But it will be tight, unless you expect your income to go up steadily for a while. So this is about your risk tolerance. Do both of you work? How do you assess your job security? From your stats it sounds like you may have family that can help financially. If saving for retirement is not a big objective here because you’ll be inheriting, then go for it! Good luck![/quote]
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